Minister of Natural Resources Energy and Mining said this on Monday in his address at the going Taiyuan low carbon energy forum in Shanxi Province in China.
He said as the world is undergoing profound change across global energy markets, Malawi should not miss the train, for this reason Kutsaira said increasing investments in sustainable energy production and supply would help secure an inclusive, prosperous and sustainable future for all Malawians while working towards achieving targets set under the Sustainable Development goals.
The power industry in Malawi needs $2.5 Billion in order to achieve SDG7 by 2030. The investment therefore represents a trippling of generation capacity of 1,200 MW from the current 361 MW," Kutsaira said
The minister also reiterated on the need for government, development partners, investors and the private sector to converge on a shared agenda to unlock investment in the energy sector, as Malawi government alone cannot do it alone.
The Taiyuan Low Carbon Energy Forum in china is being held under the theme Energy Evolution- International Cooperation.
Opening the summit, Chinese Vice Premier Han Zheng noted that the major changes to the global energy picture and the evolution of geopolitics have brought about challenges to the stability of the international energy market and balance of supply and demand.
Han said all parties should enhance cooperation in energy security, clean energy and energy infrastructure to provide strong support for global sustainable development and the realization of the United Nations 2030 Agenda for Sustainable Development Goals.
"The Chinese government always attaches great importance to energy security and clean energy low-carbon development, and stands ready to deepen cooperation with all parties so as to make greater contributions to promoting green growth, constructing a beautiful world and advancing the building of a community with shared future for humanity," said Zheng.