German solar power firm to invest in PHL

Leading German solar firm Mp-tec GmbH & Co KG is planning to invest in the Philippine solar industry, the Philippine Embassy in Germany said Tuesday. Chief executive officer Michael Preißel told Embassy first secretary Adrian Cruz and Philippine Trade and Investment Center commercial counselor Jose Antonio Buencamino during their visit to Mp-tec’s headquarters in Brandenburg on Sept. 25 that the proposed investment will be part of the firm’s long-term plans to expand in the international market. Preißel, who already visited Manila in May, said that the Philippines, with its “European-friendly” environment and favorable geographical position, could serve as Mp-tec’s platform for entry into the Asian market. Noting that there is huge potential for renewable energy in the Philippines, Preißel said that he is confident will be able to work with developers in the technical field and with the national government and local communities, especially in remote locations. Specializing in the development and manufacture of photovoltaic, solar power solar heat and assembly systems, Mp-tec is a member of the Solar Region Berlin-Brandenburg Association and has been awarded for a number of its products, including the DEKRA-certified Quick-Line assembly system and the “skytrap plus” hemispherical tracking system. — BM, GMA News