Electricity storage a key target for Cyprus

Cyprus' Ministe of Energy, Commerce and Industry George Papanastasiou has set the goal of having a solution to the issue of energy storage within the next 18-24 months, so that green energy is not rejected.

Addressing a press conference of the Green Energy Group in Nicosia, the minister noted that the energy system in Cyprus is undergoing a complete restructuring, with a focus on efforts to operate a competitive electricity market. 

He added that 41% of the budgeted resources of the Recovery and Resilience Plan concern the green transition, while the Ministry of Energy, Commerce and Industry secured 590 million euros for the period 2021-2027, which will be used mainly to grant financial incentives to households, businesses and public institutions for investments in energy efficiency and RES.

Due to the Cypriot market being small and isolated, Papanastasiou said...