Businesses to benefit from €10m investment in energy efficient measures
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During a visit at E&M Meats, a local meat importing and processing company, the Ministry of Finance, the Economy and Investment, Tonio Fenech announced the launch of a €10 million scheme cofinanced by the EU European Regional and Development Fund (ERDF) and Government.
Minister Tonio Fenech explained that these funds, available to all enterprises, including retailers and the tourism industry, are meant primarily to improve energy efficiency, an important element in ensuring environmental protection as well as a key component of business sustainability.
The energy grants will be accessible through a competitive call that will be administered by Malta Enterprise. Through this scheme, two types of investments will be supported, investments in Energy Saving Measures (such as the installation of intelligent lighting systems, solar heating, thermal insulation, building management systems and energy-saving lighting; and investments in Alternative Energy Sources (such as the installation of energy generating solutions based on the use of solar power and wind power).
Projects benefiting from this incentive should be completed within 18 months and have a minimum project value of €25,000.
Minister Fenech mentioned also the recently launched Energy Audits through which enterprises can identify effective ways of reducing costs of energy consumption. Businesses can apply with Malta Enterprise for an Energy Audit and a qualified expert will be sent to the applying company to conduct a walkthrough energy audit and identify opportunities for energy saving.
This incentive is fully funded by Malta Enterprise. The number of audit hours are pre-determined by Malta Enterprise depending on the size and complexity of the applying enterprise. The report generated can assist enterprises to submit a well balanced application for the ERDF Energy Grants.
Minister Fenech expressed his appreciation towards the Mizzi family for its efforts towards achieving higher quality standards during the past twenty-two years ensuring that E&M Meats remained competitive in its sector. Hon. Fenech noted that this company was amongst the first to invest in alternative energy.
Mr Martin Mizzi, Director of E&M Meats, explained that cold storage required temperatures as low as -30 degrees, and consequently requires high levels of energy consumption. Thus, through previous ERDF funds and with the support of Malta Enterprise the company invested in PhotoVoltaic Panels to reduce the usage of traditional energy in favour of a cleaner and renewable alternative.
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