Electricity Generation Company Malawi Limited (EGENCO) has set an ambitious target to develop about 2,000 megawatts of electricity by the year 2040.
The disclosure was made in Lilongwe by EGENCO Chief Executive Officer, William Liabunya, during a meeting with the Parliamentary Committee on Commissions, Statutory Corporations and State Enterprises.
Liabunya said the company has several power generation projects in the pipeline that are expected to significantly boost the country’s electricity supply.
He expressed confidence that the 2,000-megawatt target is achievable once all critical plans and strategies are fully implemented.
Despite the optimism, Liabunya acknowledged that EGENCO is currently facing a number of challenges affecting its progress.
He cited limited financial resources and inadequate foreign exchange as key constraints impacting the company’s operations and project implementation.
Meanwhile, Vice Chairperson of the Parliamentary Committee on Commissions, Statutory Corporations and State Enterprises, John Jackson Bamusi, said EGENCO outlined several operational challenges during the engagement.
Bamusi expressed hope that continued collaboration with key stakeholders, including ESCOM and the Ministry of Energy, will help address the challenges and support EGENCO’s growth plans.
