Renewables

Government of Cyprus to establish renewable energy agency

Photo: Pixabay

Published

February 22, 2017

Country

Comments

comments icon

0

Share

Published:

February 22, 2017

Country:

Comments:

comments icon

0

Share

The government of Cyprus is planning to establish the renewable energy agency that will draft and implement a national renewable action plan. Legislation to enable this is in the process of preparation.

Currently, there are several institutions in charge of renewable energy sources (RES) and climate change policies: the Ministry of Energy, Commerce, Industry and Tourism and the Ministry of Agriculture, Rural Development and Environment, Cyprus Mail reports.

EU Directive 2009/28/EC obliges its member countries to draft and submit National Renewable Action Plans (NREAPa) to the European Commission, outlining the mechanisms that will allow them to  meet their 2020 renewable energy, energy efficiency and greenhouse gas reduction targets.

Cyprus’ 2020 target is 13 percent share of energy generated from renewable energy sources in gross final energy consumption, including electricity, heating, cooling and transport. According to the latest data, the share of RES in total consumption reached 9.8 percent in 2015.

From the beginning of this year,  the tariff subsidy on electricity bills doubled, from 0.5 to 1 eurocent per kWh. Vulnerable households are exempted from the increase.

According to ministry’s official Stella Hadjiyiannakou the RES fund owes to the Electricity Authority of Cyprus EUR 15 million. The debt will be gradually paid back until the end of 2019.

The RES fund is financed by a fixed tariff the consumers pay through electricity bills. The Electricity Authority pays renewable energy producers what they owe them and then ask for compensations from the RES fund.

The fund’s expected revenues for 2017 stand at EUR 50.67 million, out of which EUR 46 million will be generated from the fixed tariff, EUR 3.8 million from the government grant and EUR 870,000 from offsets. Expenditures will come to EUR 50.35 million.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Terna Energy pumped storage wind power hybrid Amari Crete

Terna Energy to make pumped storage, wind power hybrid in Amari in Crete

25 April 2025 - Greek company Terna Energy, recently acquired by Masdar, made a step forward in its Amari hybrid power plant project in Crete

MORE 43 2 MW wind park northern Greece regular operation

MORE puts 43.2 MW wind park in northern Greece into regular operation

24 April 2025 - Motor Oil Renewable Energy (MORE) received the operating license for its 43.2 MW wind power plant near the border with North Macedonia

croatia zagreb solar public buildings tomasevic

Zagreb on track to reach almost 20 MW of solar on public buildings

24 April 2025 - In 2021, Croatia's capital presented the Sunny Roofs program for the installation of photovoltaic plants with a combined capacity of 50 MW

Constitutional Court Bulgaria exemptions renewables agricultural land

Constitutional Court of Bulgaria annuls exemptions for renewables on agricultural land

24 April 2025 - Investors in agrivoltaics and other renewables on agricultural land face higher expenses and longer procedures as exemptions were scrapped