Standard Bank, 265 Energy Partner to Improve Malawi's Energy Access
The project aims to provide solar energy solutions to businesses and households across the country, writes Draxon Maloya.
Lilongwe, Malawi - Standard Bank of Malawi and 265 Energy Limited have partnered to launch a renewable energy solution project that aims to improve access to affordable and reliable energy in the country, writes Draxon Maloya.
The project, which was launched in 2021, provides solar energy solutions to businesses and households across Malawi.
Solar energy is a sustainable and affordable alternative to traditional energy sources, such as hydropower, which is often unreliable and expensive.
"We are excited to partner with 265 Energy Limited to launch this important project," said Thandazo Muwalo Moyo, head of Vehicles and Assets Finance at Standard Bank of Malawi.
"This project will help to improve access to affordable and reliable energy in Malawi, which is essential for economic growth and development."
Chikondi Lifa, a beneficiary of the project, said that solar energy has helped to save his family's design business from closure.
"Our business was nearly closed due to the unreliable hydro-power supply," said Lifa.
"But since we switched to solar energy, our business has been running smoothly."
Mfundo Mvundula, CEO and founder of 265 Energy Limited, said that his company is committed to providing Malawians with affordable and reliable energy solutions.
"We have a wide range of energy systems, such as gas and solar energy solutions," said Mvundula.
"We are committed to helping Malawians access affordable and reliable energy."
The government of Malawi is also supportive of the project.
"We are working with Standard Bank and 265 Energy Limited to ensure that this project is a success," said Minister of Energy Ibrahim Matola.
"This project is in line with our goal of ensuring universal access to affordable, reliable, and modern energy services by 2030."
The Standard Bank and 265 Energy Limited renewable energy solution project is a major step forward in Malawi's efforts to improve access to affordable and reliable energy.
The project has the potential to help businesses and households across the country save money, improve productivity, and reduce their reliance on unreliable and expensive energy sources.