Malta requests around €70m for more investment in renewable energy

Malta has appealed to the European Commission to update its Recovery and Resilience Plan as part of the RePowerEU Chapter, urging the country to continue investing in renewable energy, with a proposed investment amounting to approximately €70m, Economy Minister Silvio Schembri said.

The investment will go towards upgrading and expanding the country's electric grid, including the installation of batteries.

It is expected to result in a significant increase in Malta's capacity for renewable energy generation and the availability of such energy during peak hours when energy consumption is highest.

Other proposed reforms include the streamlining of government services to make it easier to obtain permits for renewable energy projects, as well as the introduction of an obligation to install solar panels on roofs and new buildings.

Schembri said that the Recovery and Resilience Plan will help businesses transition to a digital economy, invest in modern infrastructure and develop energy-efficient projects.

“Our goal is to continue moving forward and implementing more environmentally-responsible projects,” Schembri said.

Parliamentary secretary for European Funds Chris Bonett explained that the European Commission will take two months to evaluate Malta's request.

“Our aim is to continue implementing energy and environment-friendly projects as these are key components of the programme, as described by the European Commission,” Bonett said.

Malta's commitment to renewable energy aligns with the European Union's Green Deal, which aims to make Europe carbon-neutral by 2050.

By investing in renewable energy, Malta is contributing to this goal while reducing its reliance on fossil fuels and increasing its energy security.