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It is with great pleasure and satisfaction that I am with you today for the inauguration of the photovoltaic park of the Cyprus Electricity Authority, with a total capacity of 12 MW, in the area of Akrotiri in Limassol. A photovoltaic park that will be added to the Authority's green portfolio, which I hope will soon be further enriched with additional Renewable Energy Sources (RES) projects, to assist the Authority in its now imperative green transition, but also to reduce the cost of production, the cost of purchasing greenhouse gas emission rights and, by extension, the cost of electricity provided by the Authority to its customers.
At the same time, this photovoltaic park will also contribute to increasing the existing photovoltaic capacity in Cyprus, making a decisive contribution to strengthening the green growth model that we have adopted as a Government and, on the other hand, to achieving the national energy targets that we have set for 2030.
Targets that are in full alignment with the common climate strategy of the European Union countries, promoting, among other things, the change of the country's energy mix, the further promotion of renewable energy sources, the saving of primary and final energy and the limitation and reduction of greenhouse gas emissions.
As you know, these targets are becoming increasingly ambitious and Cyprus, like the other EU Member States, is called upon to accelerate its efforts towards the green transition. To this end, together with the other relevant Ministries, last July we submitted to the European Commission a draft of the revised National Energy and Climate Plan, which sets out the existing and additional measures with which Cyprus will achieve these ambitious targets. We are currently working on the recommendations sent to us by the European Commission to improve the final text of the National Plan, which should be submitted by the end of June this year. However, the penetration of RES in electricity remains a particularly challenging issue due to the small and isolated size of the market, the absence of storage systems, as well as seasonal demand. In 2022 the share of RES in electricity amounted to 17%, ranking Cyprus in the last positions among European countries and, in particular, in 23rd place.
Given the above, we need to accelerate our pace, continue simplifying our procedures and promote those solutions that will help us to effectively increase the share of energy from RES at the lowest possible cost.
Given the above, we need to accelerate our pace, continue simplifying our procedures and promote those solutions that will help us to effectively increase the share of energy from RES at the lowest possible cost.
Ladies and Gentlemen,
The current circumstances, following the pandemic and war in Ukraine and the Middle East, make it imperative not only to further promote renewables, but also to find effective solutions to reduce the increased energy costs borne by households and businesses. As a Government, we went ahead with the announcement of measures to curb the price of electricity, which, among other things, included support for households and businesses in relation to electricity costs.
Important in this direction are of course the European and national resources that the Ministry of Energy has secured for the programming period until 2027, amounting to €370 million, which we are using in a targeted manner to accelerate the green transition and, at the same time, to provide practical support to households and businesses. In this context, the One-Stop-Shop for RES and energy storage projects has been established and is already operating under the Ministry's Business Facilitation Unit, the first phase of the online platform for handling the entire permitting process required for RES, storage and building energy efficiency projects has been completed, and the procedures for simplifying the permitting procedures for RES projects have been launched.
In addition, we are using these funds for the expansion, upgrading and digitalisation of networks, the creation of energy storage infrastructure, the operation of the competitive electricity market, the electricity interconnection with Israel and Greece, as well as the implementation of Grant Schemes for energy efficiency measures and the use of RES in housing, businesses, transport and local government. In relation to these Schemes, I should mention that in December an extension was granted to our very popular Scheme for "Encouraging the Use of Renewable Energy Sources and Energy Saving in Homes" until the announcement of the new, upgraded Scheme, which will include the new category "Photovoltaics for All".
At this point, allow me to thank AHK for its long-standing and sincere cooperation, but also for the assistance it provides to the RES and EE Fund and the Ministry, for the implementation and application of the Grant Plans related to the production of electricity from RES.
Friends,
In order to ensure the competitiveness of our country and the sustainable development of our economy, based on the Paris Agreement and the European Green Deal, close coordination and cooperation is required from all stakeholders.
Undoubtedly, AHK, as one of the largest organisations under public law and as the largest player in the energy market, has a leading role to play. The Agency should respond to the challenges of the times, work rapidly towards the green transition and provide excellent quality services to its customers in order to be able to compete deservedly with the private parties entering the competitive electricity market. It is therefore imperative to proceed rapidly with the modernisation, digitisation and optimisation of its operations.
In conclusion, I would like to assure you that both I personally and my colleagues in the Ministry will support these efforts of the EAC, as we have done in the past with the Authority's efforts to develop large photovoltaic parks, by submitting to the Cyprus Energy Regulatory Authority the plan for the installation of RES systems, as well as the effort to prepare and implement an integrated plan for the upgrading of the Dhekelia power plant, which is currently under preparation.
Thank you all for your attention.
(GA)
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