Last Updated on Thursday, 19 January, 2023 at 1:21 pm by Andre Camilleri
Schemes operated by Malta Enterprise and the Energy and Water Agency (EWA) are supporting more companies as they invest in sustainable operations, the government has said.
Minister for the Environment, Energy and Enterprise Miriam Dalli highlighted the positive impacts of this government support to businesses during a visit to Paradise Bay Hotel, one of businesses benefitting from these schemes to improve energy and water efficiency, while reducing carbon emissions.
Through the Investment Aid for Energy Efficiency Projects and the Smart and Sustainable Scheme, Malta Enterprise released circa half a million Euro in support to businesses in Malta and Gozo in just one year, the minister said.
Meanwhile, EWA also conducts energy audits to advise companies on how their energy use could become more efficient.
Minister Dalli welcomed the efforts being made by Maltese businesses in different sectors, including hospitality, as they turn towards more sustainable operations. “Undoubtedly, the hospitality sector was amongst the worst hit during the pandemic. Through the wage supplement, its extension and the support in utility bills, the government has helped companies to keep going on. At the same time, we launched schemes to encourage businesses to invest in sustainable operations to become more efficient and reduce costs,” Minister Dalli said.
“Paradise Bay Hotel invested €200,000 in smart solar energy solutions to support its requirement for water heating and to secure the production of 11,000 litres of sanitary water as energy storage. This solar plant will contribute to almost 70% of the hotel’s total energy needs, with annual fuel savings amounting to €60,000, fully recovering the cost of the investment in three and a half years,” the government said. “This project is also reducing the hotel’s CO2 emissions by 220 tonnes every year.”
“This project is a great example of the priority which is being given to sustainability and energy efficiency in our business community. We are proud to invest in sustainable businesses who make sustainability a priority in their day-to-day operations,” Malta Enterprise CEO Kurt Farrugia said.
“As per Budget 2023, Malta Enterprise will be doubling the financial assistance it provides under the Smart and Sustainable Investment grant. This grant will be covering 50% of the eligible investment, up to a maximum of €100,000. In addition, tax credit for such investments will be doubled from €20,000 to a maximum of €40,000,” the government said.