[WATCH] Developers in business with Water Services Corporation

A new joint venture has been set up between the Water Services Corporation and the Malta Developers Association in a public-private partnership set to develop solar farms.

The state-owned WSC is the majority shareholder in the Malta Developers Green Energy Ltd (MDGE), owning a 51% stake in the company. Through MDGE Ltd, the developers can focus on investment in renewable energy projects.  Thanks to the memorandum of understanding signed today, WSC committed itself to providing land and other infrastructure, whilst MDA will develop solar farms “of international standard”.

During a press conference at Auberge de Castille, OPM minister Konrad Mizzi presided over the signing of the shareholders agreement.

Photo: James Bianchi/MediaToday

“We worked hard in the past four years to bring great improvement in this sector, and this resulted in reduced energy tariffs, the closure of the Marsa power station and switching to gas as a primary energy source," Mizzi said.

According to the minister, the national electricity grid was currently using 85MW of solar renewable energy, with Enemalta constantly on standby to supplement the supply should the need arise. 

The government, he said, had invested a total of €33 million in clean and renewable energy schemes in the past four years  

MDA president Sandro Chetcuti praised the government's pro-business approach and said the ministry itself had proposed a number of initiatives the association was quick to embrace. 

"We have known since 2009 how to utilise green energy and where we should be focusing our attention, but until 2013 nothing was done in this sector," he said, insisting he was not being politically biased.

‘No joint venture with Keith Schembri’

A year to the date from the leak of a huge trove of documents from Panamanian law firm Mossack Fonseca, Mizzi fended off questions on his involvement in Panama Papers. Questioned by reporters at a press conference on whether he was in business with Keith Schembri, Mizzi denied entering into a joint venture with the Prime Minister's chief of staff.

Schembri’s name also featured in Panama Papers – and the European Parliament’s committee set up following the leaks has turned to the Prime Minister to force Schembri appear before the committee next month.

Asked about Egrant’s ownership, Mizzi would not comment further on the matter. Egrant is a third offshore company set up at Nexia BT’s behest. Nexia BT, an agent of Mossack Fonseca, had requested the Panamanian law firm to set up the offshore companies that would later be registered in Mizzi’s and Schembri’s name.

Nexia BT’s Brian Tonna insists that he remains the sole owner of Egrant, a company that never traded.

Photo: James Bianchi/MediaToday