PRESS RELEASE BY THE MINISTRY FOR ENERGY AND WATER MANAGEMENT

Malta and Estonia sign a transfer agreement to enable Malta to fulfil its EU obligations for renewable energy share

Minister for Energy and Water Management Michael Farrugia, together with the Minister for Economic Affairs and Infrastructure of Estonia Taavi Aas, signed a statistical transfer agreement between Malta and Estonia, an agreement which will enable Malta to fulfil its EU obligations of having a 10% renewable energy share in gross final consumption of energy in 2020.

The year on year increase in energy consumption, mainly driven by an increase in population and exceptional economic growth, as well as unforeseen delays in the development of large scale PV projects, has prompted the government to consider complimenting local investment in the renewable energy sector by a cooperation mechanism with another member state.

This cooperation resulted in an agreement being signed today for a statistical transfer, which provides a win-win situation for both parties.

Minister Michael Farrugia said that today’s occasion reaffirms Malta’s commitment towards reaching its renewable energy targets for 2020. He said that Malta is pleased that to fulfil its obligations, it is today signing an agreement with Estonia, so that it is ensured that Malta is in position to reach the expected targets.

This is a mutually beneficial agreement whereby we feel that bilateral relations between the two member states have been strengthened and we look further to future cooperation between the two countries, Minister Farrugia said.

Nonetheless, the government is committed to continue to support investment in indigenous renewable energy sources, taking advantage of developments in technology and cost reductions. This will contribute towards a greener energy mix and better environment .

He said that a package of new initiatives will be launched within a few weeks to further support this important sector.

Cooperation mechanisms provide additional flexibility, especially if renewable projects of significant size experience development delays and may therefore still play a role in the future, as long as these provide net benefits to all parties involved.

Minister Taavi Aas said that the country is pleased to assist in this agreement, which will also contribute to enhance the level of cooperation between the two countries.

Ms Paula Abreu Marques, Head of Unit for Renewable and CCS Policy has sent a video-message on behalf of the European Commission strongly welcoming the agreement. It was remarked that this enables the reaching of renewable targets cost-effectively. It is an important milestone and in the spirit of the European Green deal, which was adopted by the Commission in December 2019 and the Clean Energy Package. Regional cooperation is seen as an essential step to increase our ambition on renewable energy.

Source: Office of the Prime Minister