Why does Malta need solar power?

Increases in energy costs worldwide have given new impetus to this work, since Malta imports nearly all its energy. The government continues to explore additional possibilities for solar power generation and employing other alternative energy sources such as wind power (see also Waste section for related opportunities).

What is energy in Malta?

Energy in Malta describes energy production, consumption and import in Malta. Malta has no domestic resource of fossil fuels and no gas distribution network, and relies overwhelmingly on imports of fossil fuels and electricity to cover its energy needs.

What is Malta's energy security strategy?

Malta’s strategy under the energy security dimension will continue to emphasize the government’s commitment to achieving greater security of supply through the diversification of energy sources and suppliers and reduce energy import dependency primarily through the deployment of indigenous Renewable Energy Sources (RES).

Why does Malta need battery storage?

Malta also seeks to secure battery storage to aid with problems of energy intermittency that comes with widescale adoption of renewable energy sources like solar and wind.

Does Malta need a low-cost energy storage solution?

David Cassidy, Chief Executive of Proman, Malta's lead investor, says, "There is an exponential global need for long-duration, low-cost energy storage solutions, and we are excited to work with the Malta team and our new partners to progress Malta's highly scalable and technically robust solution.

Is Malta a long-duration energy storage company?

CAMBRIDGE, Mass., Feb. 24, 2021 /PRNewswire/ -- Malta Inc., a pioneer in long-duration energy storage, today announced it has raised $50M in a Series B round of funding. The financing was led by integrated energy group Proman with participation from new investor Dustin Moskovitz and existing investors Alfa Laval and Breakthrough Energy Ventures.