The Malta Independent on Sunday
A Chinese-Maltese collaboration delivering greener energy, a better life and aspirations for the future
Tracing its history back to 1882, Shanghai Electric Power Co. Ltd. has a successful track record in China, and throughout the world, as it spearheaded a number of largescale, sustainable, energy projects.
Benefitting from the resources of its parent group, over the last four years, SEPM has constantly aimed to improve people’s lives by providing more efficient and sustainable energy solutions for Malta, its people and its economy.
SEPM is a majority shareholder in D3 Power Generation Limited (D3PG), and International Renewable Energy Development Limited (IREDL). In addition, it is a minority shareholder of Enemalta plc and the International Energy Services Centre (IESC). Through these four entities, SEPM is actively involved in generating power from traditional and renewable sources, including gas, solar and wind; distributing energy via the power grid; and providing additional energy services.
When SEPM took over D3 Power Plant early in 2015, the first challenge for the company was to convert it to run on natural gas or light fuel - instead of heavy fuel oil. Following extensive investment, intensive work and close collaboration with suppliers, this was achieved, ahead of schedule, leading to greater efficiency and a more secure supply. Equally important was the fact that the process of generating energy became much more ecofriendly – this is relevant for Malta’s commitments to its EU-level 2020 targets, and also for every individual living in, and around Marsaxlokk.
Indeed, emissions from D3 are now drastically below the required maximum levels for the plant, contributing to a significantly healthier environment.
As an EU member country situated in the centre of the Mediterranean region, Malta offers a number of advantages which have led, in the last four years, to the launch of various commercial initiatives such as the setting up of the International Energy Services Centre. This joint venture between SEPM and Enemalta draws upon the expertise of both partners and provides a range of professional energy services related to construction, technological transformation, power plant shut downs, and consultancy in the European Union and the Region.
Another important strategic subsidiary is International Renewable Energy Development Ltd. Having completed a number of photo-voltaic projects in Malta, this company is now seeking to develop international opportunities. Together with Enemalta and other international partners, it has developed a 46 Megawatt Wind Farm at Mozura in Montenegro, in the Balkan peninsula, with the first gas turbines connected to the grid in the past week.
The energy cooperation projects between SEPM and Enemalta are already delivering results that benefit the environment, the economy and society. Following its conversion, D3 was successfully operating with natural gas during its first full year of operation. Apart from the Mozura wind power project, more than 1MW of energy has been generated via photovoltaic projects in Malta. Other projects are in the phase of being gradually launched.
SEPM CEO Mr Baojie Sheng said: “Shanghai Electric Power is an enterprise with a body of knowledge and experiences spanning more than a century in various continents. Over the last four years, SEPM has endeavoured to live up to the good practice example established by our parent company. We adhere to the concepts of sustainable development and actively aim to develop responsible investments, by seeking not only economic benefits, but also environmental, infrastructural and social advantages for the whole community.”
When the timing is right
That so much has been achieved by SEPM over a relatively short span of four years is testament not only to the longstanding friendship between the Chinese and Maltese govern- ments, but also to the strategic cooperation between Shanghai Electric Power and Enemalta plc.
In a number of ways, this fruiful collaboration is proving the veracity of the Chinese proverb about timing being crucially important; SEPM actively contributed towards the reduction of Malta’s electricity tariffs, and also played a part in fostering strong economic development and robust ratings improvements – all good for the country’s business and trade in general.
At the same time, Shanghai Electric Power’s 136 years of accumulated knowledge and experience in power and energy production has enabled SEPM and its subsidiaries to contribute to capital, technology and management expertise in Malta.
Advantageous location
Whilst its geographical territory is small, Malta offers an unparalleled strategic location in the centre of the Mediterranean region. The country’s friendly bilateral relations with both European and North African states offer clear potential for SEPM to broaden its horizon beyond Malta to these neighbouring countries.
Furthermore, Malta has the added advantage that it can offer high-quality talent locally, as it continues to attract many capable employees from various EU countries.
SEPM has therefore been able to develop an international, professionally capable team, eager to add value to the company’s development. Composed of employees from Malta, the Republic of Macedonia, Portugal, Serbia and Greece, the team is focused on delivering excellence.
This is precisely why, as part of its three-step Development Strategy which is aligned with China’s “The Belt and Road” initiative, SEP (Malta) Holding Ltd is positioning itself as an integrated energy supplier in the region. With its solid starting point in Malta, and following its first achievement on mainland Europe in Montenegro, SEPM will be seek-