Malta Inc. and BBVA Sign Agreement to Advance Collaboration on Energy Storage Project in Iberia [Yahoo! Finance]
SIEMENS AG SPONS ADR (SIEGY)
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Source: Yahoo! Finance
CAMBRIDGE, Mass., June 26, 2024 BUSINESS WIRE )--Malta Inc. ("Malta"), a pioneering company in electro-thermal long-duration energy storage solutions, and BBVA, a leading global financial institution, whose corporate goals align with the advancement of decarbonization using innovative cleantech, have signed a Memorandum of Understanding (MOU). This agreement lays the groundwork for a strategic partnership aimed at developing innovative financial solutions to support the deployment in the Iberian Peninsula of Malta's first-of-a-kind (FOAK) energy storage project. The MOU establishes a comprehensive framework for Malta and BBVA to collaborate on joint activities that leverage Malta's advanced energy storage technology and BBVA's financial expertise. The primary focus is to develop a discharge power offtake Power Purchase Agreement (PPA) supporting the deployment of Malta's energy storage technology. Additionally, the MOU aims to strengthen and enhance the existing relationship betwee
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