News for Tool Hire, Equipment Hire & Plant Hire and Rental Professionals

Malta’s green scheme

26 November 2020

Malta’s green scheme

Prime Minister Boris Johnson announced his ambitious ten-point plan for a ‘green industrial revolution’ last week, covering clean energy, transport, nature and innovative technologies.

The aim is to create and support jobs while making strides towards becoming a net zero nation in terms of carbon emissions by 2050.

These are laudable objectives. And this site frequently includes items about new green products that manufacturers are devising.

However, I speak to many hirers who wonder about the cost implications of buying new low or no-emission equipment for their fleets, especially larger plant, and the impact on the residual value of their current machines.

Other countries are obviously in a similar position and, interestingly, I recently came across details of a scheme being introduced in Malta from 1 December.

The new Malta Enterprise scheme, devised by the Malta Developers Association (MDA), is offering cash grants of up to €200,000 (£180,000) covering up to 40% of the cost of eco-friendly heavy equipment or heavy machinery. This is to replace - and scrap - construction plant manufactured before 2015.

An additional grant of up to 20% is available if the machinery is battery powered, or 10% of it has a hybrid engine. Those eligible to apply include contractors and equipment hirers.

The new machines must be retained and maintained in operational condition for three years. The scheme has a budget of €4 million (£3.5 million).

The MDA represents real estate developers, estate agents and other interested parties to promote responsible development.

Should a similar scheme be adopted here?

Photo: antheah/Pixabay

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