President Dr Lazarus Chakwera has secured a $27 million (K27 billion) grant for energy investment in Malawi from the Global Energy Alliance for People and Planet (GEAPP).
This follows discussions Dr Chakwera had conducted with Simon Harford, Chief Executive Officer of the Alliance in Sharm El Sheikh this morning.
The development comes after a year of courting investments in Malawi’s energy sector from GEAPP for the implementation of a grid battery-powered project in Malawi.
It is expected that a Memorandum of Understanding regarding GEAPP’s work will be signed on the sidelines of COP27, to which the President will bear witness.
GEAPP is also expected to host a side event with global climate investors, to be addressed by Dr Chakwera as part of wooing support for Malawi’s course in boosting the energy sector.
The development comes a day after the President also sealed another energy deal with Elsewedy Electric, a multinational company to invest in solar power in Malawi.
Reported by Blessings Kanache, MBC Online Services.