The Maltese government concluded an agreement with China Power Investment Corporation on September 11, which will enable the Chinese energy group to acquire a stake in the Maltese publicly owned power company Enemalta, via its subsidiary Shanghai Power Electric (SPE).

The extent of SPE’s holding will be decided in the coming months, but it will be a minority interest, reports Malta Independent.

The deal will pave the way for a financial clean-up of Enemalta, which has €840m of debts, and also provide China with a key component in the network of power stations that it intends to manage in the Mediterranean in the years to come, notes the daily.