Schemes operated by Malta Enterprise and the Energy and Water Agency (EWA) are supporting more companies as they invest in sustainable operations.
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 many businesses benefitting from these schemes to significantly 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.
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. This project is also reducing the hotel’s CO2 emissions by 220 tonnes every year.
The company also invested in a wastewater treatment installation for sustainable water management. Through this grey water recovery project, it is seeing a 100% system water recovery, with a very high return on investment and an encouraging full cost recovery within 12 months.
“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,” said Malta Enterprise CEO Kurt Farrugia.
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.
On his part, Paradise Bay Hotel General Manager Quentin Grima welcomed the support provided by the government and said that this encouraged the company to further invest in energy efficiency. “The changes we are implementing are not only cost-saving measures but also help us to reduce our carbon footprint,” Mr Grima said.
The Minister was accompanied by Malta Enterprise CEO Kurt Farrugia, EWA CPO Charles Buttigieg, Paradise Bay General Manager Quentin Grima, CEO of RecoWatt John Ciantar and MHRA Policy and Membership Manager Tonio Cini.
Earlier this month, the Energy Ministry also launched a national energy saving campaign for businesses, entitled “Be Efficient. Save Energy!”. Through this initiative, the Government is collaborating with nine organisations representing the island’s principal economic sectors to encourage businesses to adopt energy efficient practices and technologies in their operations. During the campaign launch, MHRA President Tony Zahra remarked that “the Cheapest Energy is the Energy Saved!”.