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Solarig signs concession agreement for €10 million photovoltaic installation
Solarig signs concession agreement for 45 rooftop PB installations with Maltese government.
13 December 2012, 12:00am
Karl Stagno-Navarra
Karl Stagno-Navarra
1 min read
Solarig, a multinational photovoltaic company, will develop more than 45 rooftop PV installations (67,000 square metres) on Maltese public buildings.
Multinational Solarig has confirmed an investment of over €10 million in PV installations after signing the concession agreement with the Maltese government for the construction of 4.5MW of photovoltaic installations and the recent creation of a Control & Analysis Centre.
Solarig, a multinational photovoltaic company, will develop more than 45 rooftop PV installations (67,000 square metres) on Maltese public buildings, after signing the concession agreement in consortium with a Maltese company, for the technical design, construction and operation of these facilities.
The installations to be developed totalize a capacity of approximately 4.5MW and are located in several government owned buildings, such as ministries, hospitals, reservoirs and schools, which the Maltese government has identified as adequate areas.
The Concession Agreement was preceded by an award letter, personally delivered by the Resources and Rural Affairs Minister, George Pullicino, during the International Renewable Energy Agency (IRENA) Conference held in Malta last September and in which it was discussed the use of renewable energy in isolated territories, such as islands.
The Minister remarked that the development of this photovoltaic installations, included under the Maltese Government energy strategy, represent an excellent option for meeting the targets set for 2020. This plan aims to achieve by 2020 a 10% renewable energy generation in the country.
In addition, Solarig selected Malta for the creation of its Control & Analysis Centre, that supports all installations managed by the group in different countries and which is in operation since last July.
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I expect Solarig is looking to sign a power purchase agreement with the Maltese government.
Taking into account the stated cost, this agreement may well be at similar cost to conventional generation - with much greater long term price stability. (Solar is capital intensive, with low running cost and no fuel expenses).
Solar generates most power in summer in the middle of the day - when demand is likely to peak - so adding further value by cutting down the use of expensive peaking plant.
Add to this the advantages of employment, new skills, and revenues from income and corporation tax, and this looks like a winner for Malta.
Luke Camilleri •
From which BUDGET?
Smells fishy to me and should be scrutinised!
Luke Camilleri •
From which BUDGET?
Smells fishy to me and should be scrutinised!
