A photovoltaic system which is expected to generate about 40,000 units per year and a total of 26.46kW of energy per hour was yesterday inaugurated at the Titan International Limited premises in Msida.

This is the largest installation of the sort in Malta comprising of three sets of 126-210 watts panels. Since the generated power is consumed at the same site as produced, network losses are minimal. The system is estimated to reduce carbon emissions by 35 tonnes per year.

Titan, which in the past specialised in heating, ventilation, air conditioning and lift installations is now building expertise in the renewable energy sector with a range of photovoltaic systems, solar water heaters and wind turbines.

Speaking at the inaugurating ceremony, Titan’s managing director, Maurice Mizzi called for more incentives to be given in order for the initial financial burden to be alleviated. Meanwhile he thanked the Malta Enterprise for its assistance in the project which was co-financed by EU funds.

“For such systems to be viable, there needs to be better cooperation between the government and private entities,” Finance Minister Tonio Fenech said.

He explained that in the past years, 11 companies investing in renewable energy sources received a total of e0.5 million in assistance from the European Union. “This will help to make a difference by reducing carbon emissions,” he added.

Only by means of collaboration between the public and private sector as well as individuals could the government reach the 10 per cent quota of energy generated from renewable sources, Minister Fenech said. Thus, the government was on the brink of announcing a package of incentives towards better use of renewable energy sources primarily for households and the private sector.

Infrastructure Minister Austin Gatt spoke of the need to extend such a planned system of energy harvesting to areas controlled by the government for an “effective force of energy which would surely make a difference.”

While the new energy tariffs were planned in a manner to make consumers pay for what would be used, a renewable energy system such as that installed at Titan International would make it much more viable for businesses. At the same time he pointed out that the argument towards more renewable energy sources cannot only be an economic one since lifestyle choices in favour of a better living were also affected.

Titan International had “set an example” for the government and companies which owned considerable areas of land and which had not yet made use of such a system, Dr Gatt said.