Business Recovery through Energy Efficiency
The Energy and Water Agency has teamed up with Malta Enterprise in order to improve the Investment Aid scheme for Energy Efficiency Projects with the aim of supporting further enterprises in projects related to energy efficiency.
The aid awarded through this scheme shall be in the form of a cash grant or a tax credit (which can be utilised against tax payable by the beneficiary) or a combination of both.
The scheme can be regarded as being a valuable opportunity for enterprises in different sectors to become more energy efficient while boosting their competitiveness. This being achieved through a direct investment in more efficient equipment through the implementation of one of the below:
- An investment in substitution or upgrading of equipment and installations to reduce energy consumption.
- Renovation or upgrading of equipment of existing installation for heating (or cooling) systems.
- The improvement of energy efficiency of existing illumination systems.
These investments will result in energy savings and lower operational costs which in turn will assist in business recovery whilst also allowing the enterprises to further invest in their products and/or service thus boosting their competitiveness.
For a project to be considered eligible:
- The project must entail an investment of at least twenty-five thousand Euro (€25,000) that is directly related to achieving energy savings and
- Provide a supporting justification from a competent person that the resultant estimated energy saving to be achieved as a result of implementing the proposed investment will be achieving at least a 10% reduction in the overall enterprise’s consumption.
Approved projects must commence within six months from the date they are approved and should be completed within thirty-six months from approval date.
The guidelines, application form and further information can be obtained by clicking here.
Applications for participation in this scheme shall be received by Malta Enterprise until 31st October 2023