A business plan for Enemalta's recovery is being discussed with Shanghai Electric as part of studies to determine the stake in Enemalta which will be bought by the Chinese company, and the price, Energy Minister Konrad Mizzi said in parliament this evening.

He said that the sale of the stake in Enemalta would be presented to parliament once the studies were concluded.

Replying to questions made by the Opposition yesterday, Dr Mizzi said the stake in Enemalta would only be a small part of the Chinese company's investment, since the project would also include the manufacture of solar energy equipment facilities for the maintenance of overseas power stations. 

Referring to criticism that the government had emphasised Enemalta's debts while ignoring its assets, Dr Mizzi said it was worth pointing out that the Delimara land on which the power station was located had been transferred to the Special Purpose Vehicle by the previous government. Only the part on which the BWSC power station was built was held in ownership by Enemalta. 

Shanghai Electric, a subsidiary of China Power Investments, will inject around €200 million to reduce the corporation’s debt.