A new scheme to assist businesses invest in photovoltaic systems is being launched by Malta Enterprise in the coming weeks.
The new ERDF Solar Energy Grant Scheme, which is co-financed through the European Regional Development Fund and has a budget of around €5.5 million, is aimed at helping eligible businesses install solutions that enhance energy efficiency by converting solar energy into clean electrical energy.
This will enable businesses to reduce their dependency on fossil fuels and contribute to a cleaner environment.
The reduction of energy related expenses would allow for such savings to be redirected to business development.
Successful applicants will be offered a grant per kWp installed, and the PV system should have a minimum size of 20kWp.
The value of the grant shall not exceed 50 per cent of the eligible costs of the funded project, up to a maximum of €120,000 per project.
Only systems approved by Malta Enterprise as a result of a pre-selection exercise will be considered for funding through the scheme.
Potential applicants are advised not to enter into any agreements with suppliers at this stage but to await the issue of the call and incentive guidelines.