Bird’s View of Delimara III Power Plant

        Shanghai Electric Power Co., Ltd. (SEP), the subsidiary of SPIC, accomplished the share acquisition of Enemalta successfully in December 2014. In that transaction, SEP acquired 33.3% share of Enemalta, took 90% share of Delimara III Power Plant, established renewable energy company as 70% share holder and energy service center as 30% share holder, which is called “1+4” mode. Till now, the return of that investment is definitely better than expectation. To Enemalta, the acquisition has made Enemalta turned losses into gains and its credit rating improved a lot. To Maltese energy market, the reliability of power grid significantly improved, line loss declined from 14% to less than 7%, residential electricity price reduced by over 25%. All these improved the business environment and promoted the credit rating of Malta.

        That favorable result was highly appreciated by the Maltese Government and local media, which enhanced SPIC brand image. In 2017, the project was elected as outstanding case to be listed in “2017 Report on the Sustainable Development of Chinese Enterprises Overseas”. The project has been crowned a lot of honors by both governments. “The Model for Win-win Corporation between Malta and China” by the Prime Minister of Malta and the comment of “Tiny Investment with huge Impact, Small Capacity with High Potential, Late comer with Good Experiences” by Chairman of the Supervisory Board for Key Large State-Owned Enterprises.