Palumbo invests in energy-saving programme

Palumbo Malta Shipyard is investing €3.5 million in an energy-saving program that will reduce costs and consumption as well as fight climate change and benefit competitiveness.

This is why, according to CEO Antonio Palumbo, Palumbo Malta Shipyards embarked on this investment programme, involving the shipyard and identifying how the company can enhance electrical usage efficiency, decrease electricity bills and diminishes CO2 emissions and other toxic pollutants.

In order to reach this target, Palumbo will be changing lighting across the yard to LEDs fittings. The company will be installing 140-watt LED flood lights which will reduce the lighting energy consumption by 65-70%, for an approximately reduction of 18,000 kWh (about 900 kWh/year each). The company is also aiming to save on the maximum demand tariff by using high power pumps in a systematic and planned way.

Palumbo Malta Shipyards will also install a number of power factor correctors in various strategic places, which will result in saving approximately 8% on the total cost. Currently the company is proceeding with a preliminary analysis of the entire plant to determine the size of power factor correction needed. 

Palumbo Malta Shipyards are also addressing voltage optimisation, an electrical energy saving technique that provides a reduced supply voltage for the site's equipment, improving power quality.

The company has also signed on for the installation of a Photovoltaic plant, producing 1,500 MWe. The installation of the first 1,000 MWe is planned to commence this month and to be connected on the national grid within the end of August 2015. Furthermore this energy saving program will contribute to reduce about 4,000 tons of CO2 emissions every year.

The company believes that through this key investment, the benefits go far beyond saving energy and money, and protecting the environment by helping prevent pollution and greenhouse gas emissions. Palumbo Malta Shipyards trusts that such investment is a contribution to environmental protection.

Palumbo emphasised that through this investment and government reductions in the cost of electrical power, his company and around 100 Maltese sub-contractors and suppliers will also be saving a significant amount of money in electricity consumption, besides the positive contribution to the environment and becoming more competitive in the challenging conditions of the ship repair industry worldwide.