Sargas to invest in Malta
Sargas, a Norwegian bioenergy company, says it is keen to invest in electrical energy in Malta as part of a deal with plant owners DSME and SNC-Lavalin to construct a plant.
The feedstock used at the plant is called bio paste and is a wet mix of biomass and coal. However, natural gas will also power the plant but a carbon capture system will be installed.
The company hopes to deliver the electricity produced to the grid, selling it for €0.075/kWh, estimates it says it has gleaned from a study it carried out with Enemalta in February.
The plant will be embedded into the seafloor and barriers will be built surrounding it, protecting it from waves and bad weather.