Cyprus has secured funds from NER300, one of the world’s largest funding programs for low-carbon energy demonstration projects.
The €50 million funding, a joint effort involving the Electricity Authority of Cyprus (EAC) and the agriculture ministry, will support the installation of 3,000 smart meters on the island.
NER300 is conceived as a catalyst for the demonstration of environmentally safe carbon capture and storage (CCS) and innovative renewable energy (RES) technologies on a commercial scale within the European Union.
Cyprus Agriculture Minister Nicos Kouyialis, who held talks with Yiannis Maniatis, Greek Minister of Environment, Energy and Climate Change and president of the EU Councils of Environment and Energy, said the cabinet would approve the implementation of the project in the coming days.
The project would be a major milestone in the island’s path towards increasing renewable energy capacity. It would have great energy saving results for the island, the Ministers added.
Both countries also shared views on the new EU policy framework on climate and energy for 2020 – 2030 and agreed that it is important to have a conclusion on the EU position with regard to this issue in view of the forthcoming international negotiations on climate change.
The ministers agreed to set up a special working group to examine and promote issues of mutual interest in the field of environment protection and management as well as bio-diversity, and also in climate change issues.