Government files motion to debate SEP-Enemalta acquisition

The government has presented a motion for debate on the agreement between Chinese state-owned firm Shanghai Electric Power and its €320 million acquisition for a 33% stake in state utility Enemalta.

Energy minister Konrad Mizzi said the motion had been filed to push forward the discussion on Malta’s “largest ever foreign investment” after accusing the Opposition of delaying the debate on the SEP acquisition.

The Chinese company will be running the Delimara power station extension, the so called BWSC turbine, currently running on heavy fuel oil but scheduled to be converted to gas with an LNG plant expected for 2016.

“The former administration left Enemalta with €840 million in debt, a total dependence on oil, and no plan for the future. The [SEP] agreement will put Enemalta back on its feet and become an economic motor for our country,” Mizzi said.

The SEP debate was originally scheduled for the 17 December, but the Opposition had asked for a postponement. Mizzi said that it was government’s intention to debate the SEP acquisition upon the resumption of parliament after the Christmas recess, but the Opposition yesterday told the House Business Committee and the plenary it wanted to see the ElectroGas and SEP acquisition documents published beforehand.