If Malawi will consider adopting least-cost, reliable and diversified energy sources, at least $500 million (K370 billion) will be saved, to focus on investment and operating expenses. This has been revealed in a study on Sustainable Energy Investments for Malawi.

The report outlines that different entities have set generation capacity targets, but there is no overall agreement on the implementation plans. With that being said, the report estimates that Malawi requires $1.4 billion investment by 2030 to meet the growing demand for electricity.

With such a huge figure, the report has noted that Malawi could use diverse energy sources, which are available and the most cost-effective portfolio can be developed. The report follows after the Minister of Energy outlined that Malawi needs trillions to end the current and ongoing power crisis. During the inauguration of a three-day Taiyuan Energy Low-Carbon Development in north China’s Shanxi Province, Minister of Natural Resources, Energy, and Mining Bintony Kutsaira appealed for a $2.5 billion (about K2 trillion) rescue package in form of foreign investment to boost the country’s power generation and supply capacity.

The study quoted here was jointly conducted by Department of Energy Affairs with the United Nations Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States and Rocky Mountain Institute.