The Malta Independent 26 October 2016, Wednesday

Renewable energy investment project in Montenegro between Enemalta, Shanghai Electric Power, Envision and Vestigo

Tuesday, 12 January 2016, 19:09 Last update: about 11 months ago

Prime Minister Joseph Muscat spoke of the future of Air Malta during a visit to Mozura Hill, Montenegro, together with Minister for Energy and Health, Konrad Mizzi. They spoke at a sight which will see investment in renewable energy which is set to be completed between the end of 2017 and the beginning of 2018.

The investment will be shared between Enemalta and Shanghai Electric Power, along with Envision Energy and Vestigo.

Prime Minister Muscat said that the gains from renewable investment project will go to Enemalta, so that more funds will be available for further investment in the areas of electricity distribution, among others.

Enemalta was brought back from the brink of failure and turned into a strong company that has invested in renewable energy, and the same work shall be carried out for Air Malta, a press release issued from the Office of the Prime Minister said this evening. 

The Wind Farm project in Montenegro will consist of 23 turbines of 2 megawatts each for a capacity of 46MW to generate 100 GW Hour year. This project will contribute to reducing the CO2 emissions in Montenegro and will also generate 3 % of the energy of Montenegro.

Envision Energy is a Chinese company that produces wind turbines, with regional offices in Europe, the USA and Asia. The center of innovation on renewable energy is located in Denmark. It is the first company in the industry developing smart turbine, with the most advanced technology to ensure that it is working in conditions which allow the generation maximum power. Envision combines the technology of ‘smart turbine’ with ‘cloud computing’ to maximize power generation. Vestigo is an investment fund with specialization in the Balkans.

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