Public-listed Press Corporation Limited and The meeco Group create joint venture company Press Solar Limited
Zug/Blantyre. On August 7 th 2013, the Malawi public-listed company Press Corporation Limited (Press Corp.) and the Swiss company meeco Invest AG have officially created a jointly held company: Press Solar Limited. The joint venture’s strategic objective is to implement solar energy and storage solutions in the region, providing electricity to both SME’s and large businesses. Several hundreds of kilowatts are already planned for 2013 including several energy shave off solutions and also solar water pumping in remote locations. Press Solar expects to install a total of 4 MW until the end of 2014 mainly in shave off projects.
With yearly global radiation values reaching over 1990 kWh/sqm, Malawi is ideally positioned for the implementation of solar energy and related applications such as energy storage, lighting or water pumping. A whole range of small-to-large scale renewable energy solutions are brought to the Malawi joint venture Press Solar by The meeco Group, including sun2live , sun2flow , the newly developed sun2light solar LED lighting systems as well as the iKUBE.
Meanwhile Press Corp. listed in the London and Malawi Stock Exchange and active for over 50 years in the market, will support the joint company Press Solar with its intelligence and market expertise.Headquartered in Blantyre, Malawi, Press Corp. is a highly diversified company with interests in various sectors of the Malawi economy, such as the banking sector, food & beverages, telecommunications and energy, among others. The group, which holds a leading position in the private sector, explores viable investment opportunities in various sectors to enhance shareholder value.
‘Malawi is a very promising market for solar applications such as ours. Creating Press Solar with a main actor and employer of the economy such as Press Corporation is a step forward in offering reliable long-term renewable energy solutions,’ explains Dieter Trutschler, Sales Director of The meeco Group.