Interconnect Malta
- Company typePrivate
- Founded2018
- HeadquartersBirkirkara, Malta
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Interconnect Malta does
Interconnect Malta Ltd (ICM) is a 100% government-owned energy infrastructure company established in 2018 (originally as Melita TransGas Co Ltd, renamed 4 August 2021) and domiciled in Birkirkara, Malta, operating under the Ministry for the Environment, Energy and Public Cleanliness. ICM is the sole mandated developer of Malta's strategic electricity and gas interconnectivity projects, with a portfolio spanning five core programmes: the 2nd Malta-Sicily HVAC Cable Link (IC2, a 122km / 220kV / 225MW subsea interconnection operational target Q1 2027), the planned 3rd Malta-Sicily HVDC Cable Link (IC3, 380kV, basic engineering tender issued May 2026), grid-scale Battery Energy Storage Systems at Marsa and Delimara (~84MWh / 40MW total, ~€47M), a ~300MW offshore floating wind farm concession in Malta's Exclusive Economic Zone, and the Melita TransGas hydrogen-ready pipeline (PCI 5.19).
ICM's technology stack centres on high-voltage subsea cable systems (HVAC and HVDC), grid-scale lithium battery storage, and offshore floating wind, with supporting infrastructure including 250MVA auto-transformers, variable shunt reactors, and GIS switchgear at the Magħtab and Ragusa terminal stations. Cross-border engineering, marine surveying, and EIA work are coordinated with Italian authorities (MASE, Regione Siciliana, Terna), and EPC delivery is distributed across international contractors (Nexans, SELT, Terna Energy Solutions, NextGeo, AG Installations, PowerFix JV, GE Vernova).
The business model is non-commercial: ICM does not sell products or services to end customers. Capital and operating costs are funded through a blend of Maltese Government budgets, EU structural funds (ERDF 2021-2027, Recovery and Resilience Facility), and European Investment Bank debt (€100M approved July 2025). The sole counterparty for project outputs is Enemalta plc, the Maltese state-owned transmission/distribution utility, into whose 132kV grid all infrastructure assets are delivered.
Interconnect Malta firmographics
Firmographics- Name
- Interconnect Malta
- Legal name
- InterConnect Malta Limited
- Website
- https://icm.mt
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Interconnect Malta industry classification
Industry- Product category
- Energy Infrastructure Development
- NAICS
- Wind Electric Power Generation (221115), Electric Power Generation, Transmission and Distribution (2211)
- SIC
- Engines & Turbines (3510)
- akta.pro primary industry
- Wind Farm Development & Permitting (Greenfield/Brownfield) (EUACAFAE)
- akta.pro secondary industries
- Grid Interconnection & Collector Substation EPC (Utility-Scale Renewables) (EUAEABAK), Wind Farm Ownership & Operations (IPP/Utility-Owned Asset Operations) (EUACAFAF)
Keywords
Where Interconnect Malta is headquartered
LocationHeadquarters
- HQ city
- Birkirkara
- HQ country
- Malta
- HQ region
- Europe
Offices5 records
Markets served
Interconnect Malta business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Technology or R&D, Marketing or Sales
Revenue model
- Government Infrastructure Development Mandate: As a 100% government-owned company, Interconnect Malta does not generate commercial revenue in the traditional sense. It receives government funding and EU co-financing to develop national energy infrastructure projects. The company's operational costs are borne by the Maltese Government through the Ministry for the Environment, Energy and Public Cleanliness.
- EU Co-Financing (ERDF/RRF): Major projects (IC2, BESS, IC3) are co-financed by the European Union, primarily through the European Regional Development Fund (ERDF) 2021–2027 Programme. For example, IC2 receives €165 million in ERDF funding out of ~€300 million total cost. BESS 1 is 100% funded from the Recovery and Resilience Fund (RRF); BESS 2 is considered for ERDF co-financing.
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
Interconnect Malta product offering
Product offeringCore offering
Interconnect Malta develops and implements national-scale energy infrastructure projects on behalf of the Maltese Government, including a 122-kilometre 220kV HVAC submarine electricity interconnector between Malta and Sicily (IC2), a planned 380kV HVDC third interconnector (IC3), grid-scale battery energy storage systems (84MWh total), a ~300MW floating offshore wind farm in Malta's EEZ, and a hydrogen-ready gas pipeline (Melita TransGas). The company's outputs are delivered to the national grid operator Enemalta plc and coordinated cross-border with Italian authorities; project delivery is executed via public tenders and EU co-financing.
Product overview
Interconnect Malta Ltd (ICM) is a 100% government-owned energy infrastructure company that develops and implements energy infrastructure projects for increasing Malta's electricity interconnectivity and ending Malta's isolation from the European Gas Network. The company's portfolio comprises five core infrastructure projects: (1) the 2nd Electricity HVAC Cable Link (IC2), a 122km high-voltage interconnector to Sicily that will double Malta's interconnection capacity; (2) the 3rd Electricity HVDC Cable Link (IC3), an innovative 380kV HVDC interconnector to Italy's national grid; (3) Battery Energy Storage Systems (BESS) at Marsa and Delimara for grid-scale energy storage totaling 84MWh capacity; (4) an Offshore Renewable Energy Project involving a 300MW floating wind farm in Malta's EEZ; and (5) the Melita TransGas Hydrogen-Ready Pipeline connecting Malta to the European Gas Network.
Differentiator
Problem solved
Functional benefit
Products and services
- 2nd Electricity HVAC Cable Link (IC2) A 122-kilometre high-voltage alternating current (HVAC) electrical cable interconnection operating at 220kV, 50Hz with nominal power throughput of 225MW in any direction. The system comprises approximately 21km of land cable in Sicily, 99km of submarine cable, and approximately 2km of land cable in Malta, connecting the Enemalta terminal at Magħtab to the Terna substation at Ragusa, Sicily. It will double Malta's electricity interconnection capacity with the European network and is designated an Operation of Strategic Importance under the EU ERDF 2021–2027 Programme.
- 3rd Electricity HVDC Cable Link (IC3) A planned third electricity interconnector between Malta and Italy using High-Voltage Direct Current (HVDC) technology at 380kV, designed to connect directly to Italy's national grid backbone. This will be Malta's first HVDC interconnector, providing more direct access to the European mainland electricity network. Capacity is to be determined through the basic engineering tender.
- Battery Energy Storage Systems (BESS) Grid-scale battery energy storage systems connected to Malta's national electric grid network. Two systems: BESS 1 at the former Marsa A-Station (20MWh/8MW) located in underground tunnels, and BESS 2 at Delimara Power Station (64MWh/32MW). Combined capacity of 84MWh, providing fast frequency response, voltage stabilisation, black start capability, and renewable energy curtailment mitigation.
- Offshore Renewable Energy Project A floating offshore wind farm project located beyond Malta's territorial waters (12 nautical miles) within its Exclusive Economic Zone. With an installed capacity of approximately 300MW, the project is designed to generate up to 0.8 TWh of renewable energy annually at 132kV. Developed via a 35-year concession awarded through a Competitive Dialogue Process (PQQ → ITPD → BAFO).
- Melita TransGas Hydrogen Ready Pipeline (MTGP) A hydrogen-ready natural gas pipeline project designated as Project of Common Interest 5.19 under the TEN-E Regulation, designed to connect Malta to the European Gas Network and end Malta's energy isolation from European gas infrastructure.
Quantifiable outcome
- Doubling of Malta's interconnection capacity (from ~225MW to ~450MW+)
- +6 more outcomes
Companies that use Interconnect Malta
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
Interconnect Malta technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Interconnect Malta partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and supporting.
- PowerFix JVcorePowerFix JV was awarded the contract for the supply and installation of a 132kV variable shunt reactor at Magħtab Terminal Station, completing the final EPC contract for the IC2 interconnector project.
- NextGeocoreNextGeo, a leading international marine geoscience and offshore construction company, is carrying out the Detailed Marine Survey (DMS) for IC2, covering a 50-metre corridor along the ~100-kilometre route between Malta and Sicily. The survey uses ROV-mounted multi-beam, side-scan, sub-bottom imaging, and magnetometer/UXO checks.
- Nexans AScoreNexans AS (Norway) was awarded the contract for the manufacturing and installation of the 245kV submarine cable system for IC2 (Malta-Sicily Second Interconnector). Nexans is producing the high-voltage subsea cable at its Charleston, South Carolina facility and fibre optic elements at Rognan, Norway. The contract is valued as part of the ~€300 million IC2 project and designated a 'Project of Strategic Importance' by the EU.
- SELT SpAcoreSELT SpA was recommended for award of the €34.2 million contract for the manufacture and installation of the onshore cables for IC2. The contract covers 21 kilometres of high-voltage cable in Sicily (Marina di Ragusa to Ragusa 220kV substation) and 1.8 kilometres in Malta (Magħtab terminal to l-Għallis offshore landing site).
- Fugro Italy SpasupportingFugro Italy Spa completed the preliminary marine route survey (PMRS) for the second interconnector, collecting geophysical data in nearshore Malta, offshore, and nearshore Italy, as well as environmental and geotechnical samples to inform the FEED and EIA.
- CESI-Techfem JVsupportingCESI-Techfem JV was awarded the contract for the Front-End Engineering Design (FEED) of the second interconnector project, providing the technical specifications that underpinned the permitting applications and subsequent procurement tenders.
- AIS Environment / HPC ItaliasupportingAIS Environment was contracted to execute the Environmental Impact Assessment in Malta, and HPC Italia for the EIA in Italy. These assessments were required for development permitting of IC2 in both jurisdictions.
- Terna Energy Solutions SrlcoreTerna Energy Solutions Srl is the EPC contractor for civil works at the Ragusa Terminal Station in Sicily, including installation of hybrid switchgear, 220kV shunt reactor foundations, and fire-water tank construction. The company is coordinating with Enemalta and the Italian TSO for IC1 control cable rerouting during the IC2 construction phase.
- AG InstallationscoreAG Installations, a local Maltese contractor, was awarded the €20.2 million contract for the design, supply, and installation of a 245kV 1×250MVA auto-transformer, 1×120MVAr variable shunt reactor (Maghtab), and 1×240MVAr variable shunt reactor (Ragusa), working in close collaboration with BEST (manufacturing plant in Turkey).
- GE VernovasupportingGE Vernova is collaborating on GIS terminations and upgrades at the Magħtab Terminal Station as part of the IC2 project, working alongside Enemalta, SELT SpA, and Demirer Kablo on cable laying and integration works.
- Enemalta plccoreEnemalta plc is the Maltese national electricity transmission/distribution utility. ICM coordinates with Enemalta for grid connection of all infrastructure projects. Enemalta actively participates in IC2 construction coordination (cable rerouting, IC1 shutdown management) and BESS implementation alongside its subsidiary International Energy Service Centre Ltd.
- Armed Forces of MaltasupportingThe Armed Forces of Malta is coordinating with ICM and Italian authorities during the Identification and Clearance (ID&C) campaign for IC2, particularly for the management of any unexploded ordnance discovered along the submarine cable route.
Scale indicators9 records
Recent moves7 records
Expansion highlights6 records
Interconnect Malta competitors and assessment
Company assessmentOthers
- NKT A/S: Danish manufacturer of HV power cables and a major supplier into the European subsea interconnector market (e.g., Viking Link, IJmuiden Ver). Comparable as a subsea HV cable technology enabler, though operating as a cable OEM rather than a project developer.
- Prysmian Group: Global leader in subsea HV/EHV cable manufacturing and installation — a key supplier alongside Nexans (ICM's selected cable partner) for the interconnector market. Comparable project scale and technology, though Prysmian is a commercial manufacturer rather than project developer.
Broad incumbents
- Statnett SF: Norwegian state-owned TSO developing subsea interconnectors (North Sea Link, Skagerrak) and integrating variable renewables. Comparable mandate of national grid operator for an energy-isolated nation, with EU co-financing experience.
- National Grid plc: UK-based major TSO that develops and operates subsea interconnectors (IFA, Nemo Link, Viking Link, Nautilus). Same business model of national grid operator with cross-border subsea interconnector development, though at vastly larger scale and commercial scope.
- Energinet: Danish state-owned TSO operating cross-border interconnectors (Viking Link, COBRAcable) and developing energy islands in the North Sea. Comparable mission of integrating variable renewables via subsea transmission for an island/peninsula nation.
- Tennet TSO: Dutch-German TSO with major offshore wind integration programme (2 GW Program, IJmuiden Ver). Highly comparable mandate of connecting utility-scale offshore renewables to onshore grid via subsea transmission, with EU TEN-E co-financing experience.
Emerging players
- Equinor ASA: Pioneer of floating offshore wind (Hywind Scotland, Hywind Tampen) and a relevant technology benchmark for ICM's planned 300MW floating wind project in Malta's EEZ. Operates at much larger scale and with deep offshore experience; relevant for technology benchmarking rather than direct competition.
Direct peers
- Greenlink Interconnector Ltd: Developer-operator of the 500MW Greenlink subsea interconnector between Ireland and the UK — a dedicated project company with a similar mandate (state-backed, single-asset, subsea HVAC/HVDC, EU PCI status) to ICM's IC2/IC3 portfolio.
- Terna S.p.A. Italian transmission system operator (TSO) and direct counterparty on IC2 — Terna Energy Solutions Srl is the EPC contractor for civil works at Ragusa Terminal Station, and Terna's grid is the destination for Malta's interconnection. Closest operational peer given bilateral project execution.
- ElecLink: Operator of the 1GW subsea electricity interconnector through the Channel Tunnel between UK and France. Highly comparable as a dedicated subsea interconnector project company with EU/UK regulatory regime and similar engineering and financing structure.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Interconnect Malta social profiles
Digital presenceInterconnect Malta compliance and trust
Trust signalCompliance1 record
Interconnect Malta financial estimates
Financial estimateRevenue estimate
Valuation estimate
Interconnect Malta leadership team
Management profileNumber of profiles
Profiles12 records
Interconnect Malta funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Interconnect Malta M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Interconnect Malta
What does Interconnect Malta do?
Interconnect Malta develops and implements national-scale energy infrastructure projects on behalf of the Maltese Government, including a 122-kilometre 220kV HVAC submarine electricity interconnector between Malta and Sicily (IC2), a planned 380kV HVDC third interconnector (IC3), grid-scale battery energy storage systems (84MWh total), a ~300MW floating offshore wind farm in Malta's EEZ, and a hydrogen-ready gas pipeline (Melita TransGas). The company's outputs are delivered to the national grid operator Enemalta plc and coordinated cross-border with Italian authorities; project delivery is executed via public tenders and EU co-financing.
Is Interconnect Malta a public or private company?
Interconnect Malta is a private company. It is classified as state government owned and is currently operating.
When was Interconnect Malta founded?
Interconnect Malta was founded in 2018. It employs 11 to 50 people.
Where is Interconnect Malta based?
Interconnect Malta is headquartered in Birkirkara, Malta, in the Europe region.
How does Interconnect Malta make money?
Two revenue lines are on record. Government Infrastructure Development Mandate is the primary driver. The others are EU Co-Financing (ERDF/RRF).
Who are Interconnect Malta's main competitors?
Others on record are NKT A/S and Prysmian Group. Broad incumbents are Statnett SF, National Grid plc, Energinet and Tennet TSO. Equinor ASA is listed as an emerging player. Direct peers are Greenlink Interconnector Ltd, Terna S.p.A. and ElecLink.
Does Interconnect Malta have an API?
No public API is recorded for Interconnect Malta.
What industry is Interconnect Malta in?
Interconnect Malta's product category is Energy Infrastructure Development. Its primary akta.pro industry code is EUACAFAE, Wind Farm Development & Permitting (Greenfield/Brownfield), with a secondary code of EUAEABAK, Grid Interconnection & Collector Substation EPC (Utility-Scale Renewables). Its NAICS code is 221115 and its SIC code is 3510.