MaltaEnergy, a Maltese renewable energy company set up between the Maltese Government through the Water Services Corporation and the Malta Chamber of SMEs, is celebrating the first anniversary of the completion of its groundbreaking renewable energy projects.

The projects in Qrendi, Ta Cenc 123, and Ta Cenc 4 Water Services Corporation reservoirs have a total capacity of 2MW and have exceeded expectations by generating more power than required by tender. This demonstrates that when Government and the Chamber of SMEs collaborate on specific challenges like energy, the results are often outstanding due to the combination of expertise provided by the Maltese business community and supervision of the Chamber of SMEs and Government officials. The scope of MaltaEnergy is to facilitate the use of government-owned lands and open spaces by the private sector to generate clean, renewable energy. The company, which was set up only a few years ago, has been entrusted by the Water Services Corporation with the roofs of five reservoirs, split into three projects. The company believes it can be a key contributor to Malta reaching or exceeding its renewable energy targets. During the last twelve months, the three solar farms have generated 3,176 MW of clean energy, providing enough energy for over 750 families and reducing CO2 emissions by 1,273,576 kg.

Under the format of the tender, as conceived by MaltaEnergy, the government did not need to invest its funds in the solar farms, while five Maltese solar energy companies invested a total of 2.5 million Euros. Noel Gauci, CEO of MaltaEnergy, said, "With land being one of the scarcest resources in Malta, energy prices sky-rocketing across Europe, and fuel supply threatened, our vision is to enable as many investments like this as possible." He continued that the company's long-term vision is to divert all funds currently being paid abroad to purchase fossil fuels and electricity into the local economy via renewable energy projects.