€15 million investment aid to help businesses implement energy efficiency projects

Through a collaboration between Malta Enterprise and the Energy and Water Agency, assistance is to be provided to those enterprises and businesses which implement energy efficient projects in their operations.

Minister for the Economy, Investment and Small Businesses Silvio Schembri said that €15 million will be allocated to the Energy Efficiency Scheme, with an annual budget of €5 million which will help our businesses and enterprises upgrade their equipment to cater for today’s necessities and reduce wastage of energy consumption.

“Our goal is for this scheme to encourage businesses to start implementing projects that will help them be more energy efficient. Projects which cater for the long-term, by implementing solutions and investments which will benefit both the businesses in question, as well as the country as a whole. During these more challenging months due to COVID, as a minister I continued to visit, meet and listen to businesspeople, and what impressed me most was their clear goal to not only get past this challenging moment, but to continue looking ahead. I was intrigued by some of their plans, for example, to promote projects that invest in the more efficient use of energy”, said Minister Schembri.

Minister for Energy and Water Management Michael Farrugia said energy and water are the strength and sustainment for enterprises in the manufacturing and services sectors, enabling their growth while enhancing our country’s potential. These sectors consume 30% of the total energy consumed in the country and 66% of total electricity consumption. Minister Farrugia said that these enterprises are consistently at the forefront, making the necessary investment to improve their performance.

The Energy and Water Agency within the Ministry for Energy and Water Management works with stakeholders to ensure that the reduction in energy consumption and energy efficiency remain continually on the agenda.

“The scheme announced today will therefore serve to support enterprises in preparation for the coming months, when the country’s economy regains its rhythm”, said Minister Farrugia. He concluded by saying that the National Energy and Climate Plan attaches importance to these sectors and for this reason government has launched this scheme to ensure that enterprises benefit from such aid.

Eligible projects must be aimed at improving energy efficiency and may include investment in upgrading equipment and installations to reduce energy consumption, which could be renovation or upgrading of equipment of existing heating installations or cooling systems, as well as improving the energy efficiency of existing lighting systems.

Small companies can benefit from up to 50% of the eligible value, medium companies can benefit from 40%, while large companies can benefit from up to 30%.

Application forms must be submitted before the commencement of works. Official documentation can be downloaded from the Corporation’s email: energy@maltaenterprise.com.

Applications may be submitted through the Corporation’s Customer Portal: https://clientportal.maltaenterprise.com/login. Submitted applications will be processed on a first-come first-served basis until the budget allocated to this measure is fully utilised. It is important that an audit of the energy project is carried out by a certified energy auditor or a specific assessment of the proposal is undertaken by a qualified engineer.