K99 billion will be invested in a 75MW hybrid power project in Wovwe, Karonga, as the project comprises 50MW from coal and 25MW from solar power.

The Africa Energy and Power Limited announced the above investment through a statement signed by the company’s  managing director Lumbani Mbale who confirmed that the  Electricity Supply Corporation of Malawi (Escom) has approved the  independent power producer (IPP) to commission the project.

 According to Mbale, the project will create jobs for more than 100 formal and semi-skilled workers, including providing economic multiplier effect around the project. In 2016, the Ministry of Finance, Economic Planning and Development has offered IPPs tax incentives in a bid to ensure that electricity tariffs remain within manageable levels, also to woe IPPs into the country.