Energy

‘Photovoltaics for all’ gets final OK

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‘Photovoltaics for all’ gets final OK

The Cabinet has approved the “Photovoltaics for All” scheme, which will subsidize up to 6,000 homeowners to install solar systems on their roofs. The scheme aims to democratize access to solar energy and roof insulation for all households. Homeowners will be able to install a photovoltaic system to reduce consumption and lower electricity bills, even if they don’t have the initial capital. The budget for the scheme is €30 million, and it will cover installations of up to 4 kW. The scheme includes different categories with varying levels of grants for photovoltaics and roof insulation. Changes to the previous grant scheme include the introduction of a category for citizens without initial capital, increased subsidies for vulnerable households, and the option to receive a one-off bonus if both photovoltaics and roof insulation are installed. The application process will be streamlined through electronic processing, and installation tasks will be carried out by registered contractors. Pre-approval will be required before investment implementation to ensure eligibility for grants.

Lidl Cyprus awarded for supply chain, logistics excellence

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Lidl Cyprus awarded for supply chain, logistics excellence

– Lidl Cyprus was recognized at the Supply Chain & Logistics Awards.
– The awards honor businesses for their contributions and innovative practices in supply chain, storage, and logistics.
– Lidl Cyprus operates 20 stores in Cyprus and has an advanced logistics center in Larnaca.
– The company has an automated order program that is part of its digital upgrades.
– The main objective of Lidl Cyprus is to simplify logistics processes to offer ‘Quality for less’.
– Lidl Cyprus aims to reduce its carbon footprint and protect the environment by saving fuel and energy.
– The company manages waste through better forecasting and inventory management, as well as process automation.
– Lidl Cyprus focuses on optimizing daily procedures for the benefit of customers and employees, aiming to provide the best value for money.

Cyprus to receive , €20.9 million from the REPowerEU plan

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Cyprus to receive , €20.9 million from the REPowerEU plan

Cyprus is set to receive the first tranche of €20.9 million from the EU’s Recovery and Resilience Facility as an advance payment for implementing measures in the REPowerEU plan. REPowerEU aims to reduce dependence on Russian fossil fuels and accelerate the green transition. Cyprus has the potential to access up to €104 million from REPowerEU through its national recovery and resilience plan, “Cyprus Tomorrow,” for reforms and incentives related to energy upgrades and electric vehicles, with a deadline of 2026. Cyprus has already received €263 million from the Recovery and Resilience Facility. The country expects to receive an additional €152.2 million upon the EU’s approval of its request, submitted on December 15, for the second and third tranches, contingent upon achieving 38 milestones. This disbursement is anticipated in the first quarter of the year. The finance ministry indicates that Cyprus will request the fourth and fifth tranches from the Recovery and Resilience Facility during 2024, amounting to €197 million.

Pre-financing of €20.9 million in Cyprus from REPowerEU was paid by the Commission – Minister of Finance speaks about additional reforms

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Pre-financing of €20.9 million in Cyprus from REPowerEU was paid by the Commission - Minister of Finance speaks about additional reforms

The European Commission has announced the disbursement of a pre-financing amount of €20.9 million to Cyprus from the REPowerEU program for energy efficiency and clean energy promotion. This is part of the Recovery and Resilience Mechanism. The goal of the pre-financing is to support the implementation of investments and reforms outlined in the REPowerEU chapter of Cyprus' National Recovery and Resilience Plan. Cyprus has secured a total funding amount of €104 million for the REPowerEU chapter. The Minister of Finance, Makis Keravnos, welcomed the disbursement and expressed gratitude to the European Commission for their cooperation. The Ministry of Finance also stated that a total of €263 million has been received from the Recovery and Resilience Mechanism so far, and an additional €152.2 million is expected to be disbursed within the first quarter of 2024.

Public PV projects boost RES contribution

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Public PV projects boost RES contribution

The Ministry of Education and the Electricity Authority of Cyprus collaborated on a project to install photovoltaic solar panels on school buildings. This project resulted in a 30% reduction in energy consumption for 405 schools. The project also included thermal and moisture insulation. The total cost of the project was €6.6 million, lower than the initial budget of €9.6 million. The project was funded by the European Union as part of the island’s Recovery and Resilience Plan. The EAC’s first solar park in Akrotiri is also operational, generating electricity and reducing energy costs. The solar farm is expected to save €2.8 million and reduce carbon dioxide emissions by 14,000 tons per year.

Siemens Energy chairman calls for resistance against right-wing extremists

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Siemens Energy chairman calls for resistance against right-wing extremists

Siemens Energy supervisory board chairman Joe Kaeser has warned of a resurgence of right-wing extremism in Germany. He expressed disgust at reports of a meeting of right-wing extremists in Potsdam where migration policy, including mass deportations, was discussed. Kaeser highlighted the damage to Germany’s image and called on German businesses to publicly warn of the consequences. He also stated that he would participate in demonstrations against right-wing extremism. Anti-AfD protests have gained momentum across Germany, with tens of thousands of people gathering in various cities. German Chancellor Olaf Scholz expressed gratitude for the protests against racism and hate speech.

Minister of Energy: Separate deposit the reservoir in Kronos 2 – We await ENI's thoughts

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Minister of Energy: Separate deposit the reservoir in Kronos 2 - We await ENI's thoughts

The text discusses the successful drilling of a new gas field called "Kronos 2" in the Cypriot Exclusive Economic Zone (EEZ). The Minister of Energy, Commerce, and Industry, George Lakkotrypis, stated that the discovery of the gas field may facilitate collaborations for infrastructure development within the Cypriot EEZ. The drilling was completed a few days ago and was considered successful. The presence of a flame on the platform indicates the existence of sufficient natural gas, although the quality is yet to be determined. The government is waiting for the company to make an announcement regarding the findings and potential development and production plans for the area. The Minister also mentioned the possibility of collaborations with other companies operating in the region, such as Exxon Mobil-Qatar Petroleum. The discovery of new gas fields in the Eastern Mediterranean region has attracted attention from Europe, as the demand for natural gas increases. The government is considering infrastructure plans for the gas fields, and collaborations between different gas fields in the region are seen as easier and faster.

Inflation in Cyprus fell to 1.9% in December, according to Eurostat

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Inflation in Cyprus fell to 1.9% in December, according to Eurostat

The text states that the lowest annual inflation rates among EU member states were recorded in Denmark (0.4%), Italy (0.5%), and Belgium (0.5%). The text also mentions that in December 2023, the annual inflation rate in Cyprus was 1.9%, down from 2.4% in November, and significantly lower than the 7.6% recorded in December 2022. In the eurozone, the annual inflation rate in December was 2.9 %, up from 2.4% in November, and much lower than the 9.2% recorded in December 2022. In the EU as a whole, the annual inflation rate was 3.4% in December, up from 3.1% in November, and significantly lower than the 10.4% recorded a year earlier. The highest annual inflation rates were recorded in the Czech Republic (7.6%), Romania (7.0%), and Slovakia (6.6%). In comparison to November, the annual inflation rate decreased in fifteen member states, remained stable in one, and increased in eleven. In December, the services sector had the largest contribution to the annual inflation rate in the eurozone, followed by food, alcohol, and tobacco, non-energy industrial goods, and energy.