Issue link: https://maltatoday.uberflip.com/i/1482153
5 NEWS 20.10.2022 In the three years preceding the COVID-19 pandemic, Malta recorded a current account surplus averaging 5.5 per cent of GDP, underlined by a strong service net export balance. However, the COVID-19 pandemic negatively impacted the current account balance leading to a current account deficit in 2020 and 2021. During the first quarter of 2022, Malta has similarly recorded a current account deficit, although this has decreased significantly from the previous quarter by 4.1 percentage points. percentage of trade in goods PAUL COCKS A post announcing the relocation of Corinthia's Area General Manager Jonathan Pace to Malta have fuelled speculation that a Corinthia's plans for a six-star de- velopment, including 12 blocks ranging from eight to 21 floors in St George's Bay, may be back on the table. e announcement of Pace's move to Malta appeared on MaltaCEOs.mt with a backdrop of the proposed San Gorg development. e plans include four high-rise blocks ranging from eight to 13 floors instead of the Marina hotel in front of the approved DB tower. e highest building (21 floors) is proposed in an area west of the Radisson Hotel and presently used as parking areas. is will be accompanied by a nine- floor block. e area presently occupied by the Radisson Hotel will include three high-rise blocks with heights rang- ing from 10 to 16 floors. ree other blocks with heights ranging between eight and 14 floors are being proposed east of the Corinthia San Gorg. Sources close to the industry say that Corinthia are presently focusing on other projects, although they have not excluded to pursue the San Gorg project. But news of Pace's appointment as Area General Manager and his permanent posting in Malta have fuelled speculation that the project is not as defunct as previously thought, the sources said. e San Gorg area is experiencing a boom in high rise projects, with development by the AC Group, Paul Xuereb and the db Group. Is Corinthia 6-star San Gorg project on the cards again? A draft masterplan seen by MaltaToday includes a total of twelve blocks ranging from eight to 21 floors. MICROSOFT has unveiled a first-of-a-kind hydrogen gener- ator running at three megawatts that produces no emissions. Whilst backup generators which support continuous datacentre operations in the event of power outages and other service disrup- tions typically burn fossil fuel, Microsoft has long been pioneer- ing sustainable alternatives in its commitment to eliminate diesel fuel. e three-megawatt hydrogen fuel cell system in Latham, New York is Microsoft's latest mile- stone in its quest to find a ze- ro-carbon emissions replacement for its backup diesel-powered generators. "What makes a datacentre a da- tacentre is that it can operate even though the grid is not so when there is a blackout, the servers stay up. What we just witnessed was, for the datacentre industry, a moon landing moment. We have a generator that produces no emissions and that is simply mind-blowing," said Sean James, Microsoft's director of datacentre research. Microsoft strives to provide da- tacentre customers "five-nines" of service availability, which means that the datacentre is operational 99.999% of the time. To do that, datacentre operators rely in part on the batteries to kick on the moment a power outage occurs and provide power to the servers while backup generators are fired up. While the backup generators are used infrequently, they are critical if there is a power outage. at's because they maintain uninter- rupted power to the datacentre so that customers experience no outage. Backup generators typically burn fossil fuel, though Microsoft has been pioneering sustainable fuel alternatives as part of its com- mitment to eliminate diesel fuel and become carbon negative by 2030. To meet this goal, Microsoft is exploring short-and long-term alternatives. For example, in November 2021, Microsoft launched its sustaina- ble datacentre region in Sweden that uses Evolution Diesel Plus for generator fuel - diesel that con- tains at least 50% renewable raw material and nearly an equivalent reduction in net carbon dioxide emissions compared to standard fossil diesel blends. "Long term, proton exchange membrane, or PEM, fuel cell tech- nology could be a viable solution for no carbon emissions, PEM fuel cells combine hydrogen and oxygen in a chemical reaction that generates electricity, heat and wa- ter. ere is no combustion, no particulate matter and therefore, no carbon emissions," says Lucas Joppa, Microsoft's chief environ- mental officer. e PEM fuel cell test in Latham demonstrated the via- bility of this technology at three megawatts, the first time at the scale of a backup generator at a datacentre. ree megawatts is enough energy to power about 10,000 computer servers or 600 homes. "ree megawatts is super inter- esting because that's the size of the diesel generators that we use right now. So once green hydrogen is available and economically via- ble, this type of stationary back- up power could be implemented across industries, from datacen- tres to commercial buildings and hospitals," added Joppa. Microsoft turned to PEM fuel cells as a potential solution to the backup diesel generator challenge in 2018. PEM fuel cells are com- monly used in the automotive industry because, like diesel en- gines, they are quick to turn on and off, and can follow a load up and down. at fast reaction and load following capability is well suited for backup power at data- centres. With the prototype testing com- plete and concept proven, Micro- soft will install one of these sec- ond-generation fuel cell systems at a research datacentre where engineers will learn how to work with and deploy the new technol- ogy, including the development of hydrogen safety protocols. "Microsoft's business and sus- tainability needs for fuel cells and green hydrogen send a demand signal into the marketplace. If Mi- crosoft invests in hydrogen tech- nology and the technology works, other companies will feel more confident investing in hydrogen too. If we feel confident in using this technology, that's a big meas- ure of faith," Joppa said. Microsoft creates generator that produces no emissions