{"id":380,"date":"2025-09-18T03:55:43","date_gmt":"2025-09-18T03:55:43","guid":{"rendered":"https:\/\/presscorp.com\/?p=380"},"modified":"2025-10-23T08:32:13","modified_gmt":"2025-10-23T08:32:13","slug":"press-energy-signs-historic-deal-with-escom","status":"publish","type":"post","link":"https:\/\/presscorp.com\/index.php\/2025\/09\/18\/press-energy-signs-historic-deal-with-escom\/","title":{"rendered":"Press Energy Signs Historic Deal with ESCOM"},"content":{"rendered":"\r\n\r\n\r\n\r\n\r\n<p>Blantyre, 17th December 2024 \u2013 Press Corporation Plc (PCL), Malawi\u2019s leading conglomerate, has launched the country\u2019s first large-scale solar energy project through its subsidiary, Press Energy Limited (PEL). This groundbreaking initiative was marked by the signing of a Power Purchase Agreement (PPA) with the Electricity Supply Corporation of Malawi (ESCOM).<\/p>\r\n\r\n\r\n\r\n<p>Located in Nkhoma, Lilongwe, the 50-megawatt solar project will inject clean, renewable energy into the national grid, addressing the country\u2019s persistent energy challenges. With an investment of $55.1 million, this is Malawi\u2019s first locally driven solar energy project, showcasing the potential of homegrown innovation and commitment to sustainability.<\/p>\r\n\r\n\r\n\r\n<p>The project aligns with Malawi\u2019s energy diversification strategy by reducing dependence on hydropower, which is increasingly affected by climate change. ESCOM will purchase the solar-generated electricity for national distribution, enhancing energy security and reducing load shedding.<\/p>\r\n\r\n\r\n\r\n<p>\u201cThis project represents a major step forward in Malawi\u2019s transition to cleaner and more sustainable energy,\u201d said Ronald Mangani, CEO of PCL. \u201cBy increasing the share of solar power in our energy mix, we are reducing the country\u2019s carbon footprint, boosting economic growth, and improving energy reliability for all Malawians.\u201d<\/p>\r\n\r\n\r\n\r\n<p>The Malawi Energy Regulatory Authority (MERA) has played a crucial role in facilitating this landmark initiative. MERA\u2019s Director of Finance, Zacharia Ng\u2019oma, lauded the project\u2019s alignment with national energy policies and its contribution to the global climate agenda.<\/p>\r\n\r\n\r\n\r\n<p>ESCOM\u2019s CEO, Kamkwamba Kumwenda, highlighted the project\u2019s transformative impact: \u201cThis agreement allows ESCOM to diversify its energy sources and stabilize power supply for our growing customer base.\u201d<\/p>\r\n\r\n\r\n\r\n<p>The solar project underscores PCL\u2019s dedication to Environmental, Social, and Governance (ESG) principles, creating jobs, fostering skills development, and advancing sustainable growth. \u201cThis initiative is not only about meeting energy demands but also setting a benchmark for environmentally sustainable development in Malawi,\u201d added Mangani.<\/p>\r\n\r\n\r\n\r\n<p>The successful PPA signing heralds the start of construction and signals a new chapter in Malawi\u2019s energy sector. With this project, PCL is paving the way for future renewable energy investments, reinforcing its commitment to a greener, more resilient future for the nation.<\/p>\r\n\n    <div class=\"xs_social_share_widget xs_share_url after_content \t\tmain_content  wslu-style-1 wslu-share-box-shaped wslu-fill-colored wslu-none wslu-share-horizontal wslu-theme-font-no wslu-main_content\">\n\n\t\t\n        <ul>\n\t\t\t        <\/ul>\n    <\/div> \n","protected":false},"excerpt":{"rendered":"<p>Blantyre, 17th December 2024 \u2013 Press Corporation Plc (PCL), Malawi\u2019s leading conglomerate, has launched the country\u2019s first large-scale solar energy project through its subsidiary, Press Energy Limited (PEL). This groundbreaking 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