Enigin Update - Maltese Tourism gets Energy Saving Loan Scheme
TOURISM operators in the Mediterranean island of Malta can take advantage of a soft-loan scheme designed to help with investment in energy saving technology.
The scheme launched by Tonio Fenech, Malta’s Finance, Economy and Investment Minister, and Mario de Marco, Tourism Parliamentary Secretary is open to all with a valid licence issued by the Malta Tourism Authority.
Hotels, guesthouses, hostels, farmhouses, snack bars or restaurants can apply to the scheme when they plan an energy saving project. Malta Enterprise can approve loans up to €400,000, covering 80 percent of the total project costs.
The loan period is limited to five years and with an interest rate of 1.5 percent over the discount rate charged by local commercial banks, and may also be granted a moratorium of 12 months from the first withdrawal.
To qualify for the loan scheme energy efficiency projects must contribute to a reduction in Malta’s dependence on fossil fuels and provide a reduction in the carbon footprint of the business.
de Marco said at the launch, “We will not tolerate any form of tourism that comes at the expense of the environment inline with environmental policies in place.”
Fenech added, “Challenges coming from various factors are there but the solution is not to subsidise commercial touristic operation. We sought alternatives and came up with solutions without compromising the good quality tourism our country offers."
Enigin Distributors have the technology and solutions to improve the tourist industry's energy efficiency, saving energy, reducing emissions and utility costs. From Enigin Plc's Eniscope Real-time and Analytics system through to simple refrigeration energy saving, Enigin Distributors have the range of solutions to help all businesses.
Picture of Grand Harbour; Valletta, Malta by foxypar4
