IPP developers at the African Trade Insurance Agency’s 20 April forum on Malawi’s renewable energy sector generally expressed satisfaction with the business and regulatory environment, but some criticisms were aired – in particular, the implications of exchange controls loomed large.
Ian McKersie of Mulanje Hydro – developer of Malawi’s first IPP, the 8.25MW Ruo-Ndiza hydropower scheme commissioned in 2019 – said that while it was “very keen to do more projects in Malawi”, exchange controls “posed a real problem” for IPPs. They “seriously need to be looked at”, because they will “continue to haunt these capital-intensive projects”, said McKersie.
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