battery

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.