Conglomerate Press Corporation plc (PCL) on Thursday offered compensation worth K759 million to community members of Dete area at Nkhoma in Lilongwe after acquiring about 110 hectares of land to set up a 50 megawatt (mw) solar power plant at an estimated cost of K53 billion.
Presenting the cheque to the community members at Wanje Primary School, PCL Board Chairman Randson Mwadiwa thanked the community members for providing their land to pave way for the installation of the solar power plant.
Mwadiwa noted that the use of the community’s land for solar power generation is a sacrifice, and said PCL is committed to ensuring that this sacrifice is duly recognized and compensated.
“This compensation is not just a gesture of gratitude; it is a tangible representation of our community’s unity and support for sustainable initiatives. It is essential to acknowledge the contributions and sacrifices made by those who have graciously agreed to provide their land for the establishment of the solar power project. As PCL, this ceremony is a heartfelt expression of our gratitude, and a demonstration of our unwavering commitment to responsible land use and environmental stewardship,” said Mwadiwa.
He also said the project, which is expected to be concluded in 2024 with operations starting in 2025, is about building a better Malawi.
“Let us remember that this ceremony is not just about solar panels and energy generation. It is about building a better Malawi , one where we harness the power of the sun to create a sustainable, low-carbon future. It is about creating jobs, stimulating economic growth, and ensuring that our community thrives in a changing world,” emphasized Mwadiwa.
Senior Group Village Headman Dete thanked PCL for compensating the community members fairly.
“We have given up our land on our free will because we understand the benefits of installing a solar plant here. We know we will benefit in many ways through various jobs that will be created during the construction of the plant and other sustainable benefits of solar power,” said the Village Chief.
PCL secured an approval from the Electricity Supply Corporation of Malawi (ESCOM), to connect to the 132KV busbar at its Nkhoma substation after the implementation of the Malawi-Mozambique 400KV transmission interconnection project.
PCL is a highly diversified conglomerate with interests in various sectors of the Malawi economy, including financial services, telecommunications, energy, property, agriculture and tourism.
Some of its subsidiary companies and associates are National Bank of Malawi (NBM) plc, Puma Energy Malawi Limited, PressCane Limited, Ethanol Company Limited, Telekom Networks Malawi (TNM) plc, Malawi Telecommunications Limited (MTL), Limbe Leaf Tobacco Company Limited, Open Connect Limited, LifeCo Holdings Limited, Macsteel Malawi Limited, Press Properties Limited and Sunbird Tourism plc.