RES

€80 mln for RES energy battery storage

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€80 mln for RES energy battery storage

During a state visit to Cyprus, Germany’s President Frank-Walter Steinmeier and Cyprus President Nikos Christodoulides discussed potential cooperation in the energy sector. They specifically talked about seeking German expertise in renewables and electricity energy storage. Cyprus currently has 50% of its energy production from renewable sources, but only 19% of its electricity mix comes from renewables due to a lack of storage capacity. The Cyprus government plans to announce two projects worth approximately 80 million euros by 2024 to develop batteries for energy storage. They also expressed a desire for technical support from the German government. President Steinmeier stated that Germany is open to sharing its know-how in energy technology with other countries.

Foreign investors want more info on energy, relocation

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Foreign investors want more info on energy, relocation

Foreign investors active in Cyprus attended a “Foreign Investors Dialogue with the Government” event where they were informed about actions being implemented or planned by the government. The government aims to make Cyprus an attractive destination for living, working, and doing business. Some of the actions mentioned include new housing policies, the possibility of submitting electronic applications for renewable energy projects, the implementation of the Strategic Investments Law, and improvements in the education system for children of foreign workers. The government has also introduced measures to improve the business environment, support innovation and entrepreneurship, and streamline licensing procedures. The Company Facilitation Unit has registered almost 2,000 foreign companies since its establishment. The government is also addressing housing affordability and delays in the naturalization process. The labor market is being made more accessible for third country nationals studying in Cyprus.