Michele Peresso Group, best known for its sportswear stores, is planning to open retail outlets in Libya while also expanding into solar energy production.

Prime Minister Lawrence Gonzi yesterday visited the group’s Birkirkara head offices where he was shown a PV panel investment that reduced the building’s electricity bill by 17 per cent.

CEO Emanuel Peresso said the project cost €112,000 but was half paid for by the ERDF energy grant scheme. The company is also in “advanced talks” with foreign partners to invest in a PV farm , he added, urging the authorities to keep supporting private investment in alternative energy.

Mr Peresso said the company, which owns Eurosport and Europharma among other subsidiaries, employs 135 workers, 73 per cent of whom were women.

Besides its 21 retail outlets around Malta and Gozo, the company is now planning to expand overseas, investing in its first retail shops in Libya through an investment of €700,000.

Mr Peresso said the company had also convinced the Malta College of Arts, Science and Technology to introduce a course specifically for those who want to work in retail. A part-time course in retailing will be starting in September.

Dr Gonzi praised the company for its educational initiative and for recognising the importance of alternative energy. He said Malta was blessed with sun and wind, which should be exploited.

The Prime Minister also recognised that retail outlets like Eurosport had to compete with online stores. Thirty per cent of youth today shop online. “This is a reality to which we must respond. Technology must be seen as an opportunity,” he said.