Enemalta invests in €90 million wind farm in Montenegro

The Mozura wind farm in Montenegro was formally opened today, in what has been billed as the first overseas energy investment by a Maltese company.

The €90 million project was carried out by Maltese energy company Enemalta in partnership with Chinese giant, Shanghai Electric Power.

The 46MW wind farm has 23 turbines spread out over a stretch of 13km in the mountainous Balkan country. It can produce 112 gigawatt hour of clean energy.

Prime Minister Joseph Muscat inaugurated the wind farm while on an official visit to Montenegro. Montenegrin Prime Minister Duško Marković also attended the opening ceremony.

Muscat is accompanied by Energy Minister Joe Mizzi, Foreign Minister Carmelo Abela and Tourism Minister Konrad Mizzi, who was the brains behind the Shanghai Electric investment in Enemalta back in 2014.

The Chinese firm took a minority stake in Enemalta as part of a deal to cut the state company’s debts and put it on a sure footing.

Joe Mizzi said the strategic partnership between Enemalta and Shanghai Electric Power was a partnership between the smallest EU country and one of the largest economies in the world.

“This is the new way Malta was creating successful collaborations. The experience, the knowledge and financial strength of Shanghai Electric Power were crucial for Enemalta’s restructuring and today we are picking the fruit of this collaboration,” Mizzi said.

Malta is supporting Montenegro’s bid to join the EU.