RRP

Large businesses to receive , €17 million to boost energy efficiency

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Large businesses to receive , €17 million to boost energy efficiency

The Ministry of Energy has announced a €17 million grant scheme for energy upgrading and boosting the competitiveness of large businesses, funded by the EU Recovery and Resilience Plan. €10 million comes from the new EU REPowerEU Plan. The maximum grant awarded to a large enterprise is €750,000. The application period starts on April 26, 2024, and ends on June 28, 2024. Interested parties can obtain more information from the Industry and Technology Service website.

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.