Press Corporation Limited seeks energy partners in the US |
By Thom Khanje - The Daily Times Press Corporation Limited (PCL) has taken advantage of the US-Africa Summit taking place in Washington DC to explore strategic partnerships with prospective US investors in its planned energy sector ventures. Speaking in an interview in Washington DC on Sunday, PCL Group Chief Executive Officer Mathews Chikaonda said he had already met four prospective investors with whom he had discussed potential partnerships in planned energy and tourism investments. He said the company is also exploring investment partnership opportunities in the generation of electricity through hydro and biomass technologies. “Energy is now one of our strategic areas of focus and we have already set up a company called Press Solar through which we want to invest into the generation of electricity using solar energy,” said Chikaonda. He said since the US Government is already working in Malawi’s energy sector through the Millennium Challenge Corporation (MCC) Compact Programme, PCL thought of taking advantage of the situation to explore joint venture opportunities in energy with US companies. For Press Solar, Chikaonda disclosed that PCL is working with a company called American Solar Integrators for a prospective partnership in the production of an initial 30 megawatts of electricity for supply to various major industries in the country in addition to the national grid. “We have already identified the sites and engineers are now working on the requirements for the project,” said Chikaonda. He said the sites are located near Escom’s power grid for ease of connection into the national electricity supply network. Chikaonda said the company plans to generate the electricity using what he called an “interesting technology” that is patented by a certain company in the US and that the roll out plan will be known once the patent has been secured. Chikaonda also disclosed that PCL is talking to another US company called Symbion Power for a prospective partnership in the generation of electricity using hydro and biomass technologies. “Symbion Power has done big energy projects in Tanzania under the Millennium Challenge Corporation, so they have vast experience which we think we can use in Malawi,” said Chikaonda. He is also scheduled to meet with other prospective investment partners in the tourism sector in which PCL has a long standing interest. “We remain very keen to tourism and development in Malawi and, among other projects, we want to re-examine the Cape Maclear resort project for a possible return to its development,” said Chikaonda. |