Malta requests €70 million investment to improve country’s renewable energy sector

Malta has requested the European Commission update its Recovery and Resilience Plan in a bid to carry out a €70 million investment to upgrade the country’s renewable energy sector.

The €70 million investment will see an expansion of the Malta’s energy grid, which also includes the storage of electricity in batteries.

“The proposed investment can significantly increase the generation capacity of renewable energy in the country, while the storage of such energy means that it can be used in hours where energy consumption is not so high,” the Economy Ministry said on Friday.

The proposed reforms complement other efforts by the government to increase efficiency in granting permits for renewable energy projects and to introduce the obligation to install solar panels on roofs and new buildings.

Economy Minister Silvio Schembri stressed the Recovery and Resilience Plan is already helping businesses make the core digital by investing in modern equipment and devices, and energy-efficient projects. 

"Our goal is to carry out more projects which the environment around us," Schembri said.

European Funds Parliamentary Secretary Chris Bonett further explained that the European Commission has two months to carry out assessments on Malta's request. 

He also said that the country's aim is to carry out other projects to raise standards in both energy and the environment.