Malta’s revised Recovery and Resilience Plan is one of the first updated plans approved by the European Commission in 2023.
Since the adoption of the Recovery and Resilience Plan in 2021, the European Commission launched its REPowerEU Plan, highlighting the need for European-wide action needed with respect to clean energy, energy security of support and storage.
Today, the European Commission endorsed Malta’s plans under the REPowerEU initiative which will aim to contribute towards supporting energy security of supply, through the strengthening and widening of the electricity grid and battery storage, as well as reforming the permitting process with a view to accelerate permitting timeframes and encourage the uptake of renewable energy.
Actions will be implemented through non-repayable financial support for REPowerEU, for a total amount of circa €69.9 million.
Malta’s economic GDP growth and thereby the positive economic performance led to the revision of this RRP. The revised plan retains its strong focus on green and digital initiatives with over 68% of funds dedicated to climate actions and over 26% earmarked for enhancing digital solutions.
Parliamentary Secretary for European Funds Chris Bonett stated that “The approval of the revised RRP will enable Malta to strengthen its efforts in implementing important reforms and investments, including in the energy sector for the benefit of citizens and businesses alike. The swift approval of the plan is also indicative of the constructive collaboration between the European Commission, national authorities and local stakeholders on the use of EU Funds to shape Malta’s development over the next decade.”
Minister for the Economy, European Funds and Lands Silvio Schembri welcomed the approval by the Commission and urged businesses to grasp the opportunity and apply for funds to become more sustainable and resilient to future challenges while also contributing to the recovery and development of our country.
“This is a positive signal for various stakeholders, including businesses and the population at large whereby it demonstrates a commitment to address various challenges. But the success of such plans ultimately depends on the uptake of applicants,” Minister Schembri highlighted.
Within four weeks, the Council is required to endorse the Commission’s assessment allowing Malta to start claiming funding under the REPowerEU initiative. Since 2021, Malta has already received over €93 million in pre-financing and the first payment claim under the RRP.
Since the start of 2023, the new EU Funding programmes for the 2021-2027 period have been launched. More information on the Recovery and Resilience Plan and other EU funding opportunities may be found on fondi.eu.
