Enemalta, Shanghai Electric set up renewable energy joint venture

A planned joint venture between Enemalta and Shanghai Electric Power in renewable energy has been set up.

The International Renewable Energy Development Limited is set to focus on the use of solar energy as a renewable energy source. With a target to develop a 300MW portfolio of projects, Enemalta confirmed that one of the first commercial projects considered is the greenfield development of a 46 Megawatt wind farm in Montenegro.

“Enemalta continues the journey to transform itself into a regional operator in partnership with Shanghai Electric Power,” the company said in a statement.

“As part of the strategic alliance established between Enemalta and Shanghai Electric Power, the two companies have set up International Renewable Energy Development Limited.

“Intensive discussions between all stakeholders will be undertaken in the coming months.”

Critics of the joint venture had claimed the partnership was a way for China to circumvent EU anti-dumping rules. Energy Minister Konrad Mizzi however insisted that the European Union and China had agreed on a clear mechanism on solar panels in terms of the duties and excise paid.

The joint venture, looking at both solar and wind farm installations in Europe, is expected to develop an engineering, procurement and construction capability.