€1m investment by Vassallo Group set to generate 1.3MW from renewable energy

A €1m investment in solar energy generation in Burmarrad has been inaugurated by the Minister for Energy, Enterprise and Sustainable Development Miriam Dalli. The investment was carried out by Powerezi, a subsidiary of Vassallo Group.

This investment is part of a larger €35m investment being carried out by Vassallo Builders Group of Companies at the Vassallo Business Park. The investment is being made on land previously used as a concrete site and is now being regenerated to accommodate cleaner and more innovative operations.

The Vassallo project is yet another project on the island that makes use of solar energy to generate 1MW or more. In fact, the project, carried out by Powerezi, saw the installation of over 3,000 panels whose electricity generation of 1.3MW is equivalent to that consumed by some 570 households.

Minister Dalli welcomed the investment done by Vassallo Group to incor

porate sustainability in their business operations. “The public and private sector must work together in order to continue to promote the use of renewable energy,” Dalli said.

“For a company to grow and continue doing so, business diversification is important. Likewise, it is essential to strike a balance between commercial interests and environmental protection.”

Minister Dalli encouraged the company to continue to offer mentoring opportunities to young people and entrepreneurs.

Present for the inauguration were Nazzareno Vassallo, chairman Vassallo Group, Pio Vassallo, chief executive Vassallo Group and chairman and chief executive of Powerezi, Alex Tranter.

Pio Vassallo stated that the project’s inauguration coincided with the 75th anniversary of Vassallo Group. He explained how, through the new 1.3MW energy project, Vassallo Group was increasing its clean energy production. “This is increasing the Group’s overall production to 2.3MW, as part of our commitment towards the environment.”

Tranter said that: “Powerezi has inaugurated its largest project with 3,000 solar panels. It is a project which is close to our heart and we look forward to continue contributing to the environment and climate change.”