Updated - The Electrogas Consortium, which has been contracted by the government to build and operate the new gas-fired power station, insisted this evening that all of its members possess the necessary financial resources to continue funding the development costs of the project.
Earlier, the Nationalist Party raised a number of questions on the financial difficulties reportedly affecting Gasol - the lead partner of the consortium.
Electrogas said each member of the consortium is dedicated to completing the development of the project as quickly as possible and in accordance with all agreements and time schedules agreed with Enemalta.
"Each member of the consortium possesses ample financial resources to continue funding the development costs of the project and their respective equity contributions needed to pay for the construction of the Project. This includes Gasol, which raised US$30m in the international bond market earlier this month," the consortium said.
"The consortium continues to be supported by a group of high profile international banks, who will provide the balance of the funds needed, on a project finance basis, for the construction of the project."
Electrogas said it was well aware that the Delimara LNG-to-power project was an important development "that will bring relief to the Malta power sector, which suffers from high power prices and excess levels of pollutants."
It said it shared the government's vision for cleaner, lower cost electric power and it would honour all of its commitments in Malta.
PN RAISES QUESTIONS
The Nationalist Party in a press conference earlier afternoon noted financial difficulties reportedly effecting Gasol.
PN deputy leader Mario de Marco once again called on the government to come clean on the project and not continue to hide important information from the public.
Making it clear that the PN supports power generation through gas and has no problems with any of the members of the consortium he said that he hopes that gaasol's financial situation will not badly affect the project.
According to the latest accounts Gasol is facing difficulties to raise finance.
Dr de Marco again asked the government to publish the contract it had reached for the building of the power station.
PN energy spokesman George Pullicino said that the government should explain what stage the power station project had reached, and when it would be ready.