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- Ελληνικά
The request of the Republic of Cyprus to amend its Recovery and Resilience Plan was submitted today, 1 September 2023, to the European Commission.
Our national plan was approved by the European institutions on 28 July 2021. Its amendment with the request submitted today concerns the introduction of the new REPowerEU chapter with a budget of €104 million, to strengthen the energy sector and interventions that can contribute directly and substantially to the Union's objective of energy decoupling from Russia, and to amend Measures for cases where the achievement of the milestones/objectives in the SDS becomes unfeasible due to objective circumstances, in accordance with the provisions of the relevant Regulation.
The new RePowerEU chapter in the SGP strengthens the energy and transport sectors and a total of nine measures were proposed for inclusion, five existing SGP measures with scaling up, and four new measures (investment and reforms). These measures aim to reduce Cyprus' energy needs and, by extension, reduce its dependence on imported fossil fuels by strengthening investments in energy efficiency improvements in the building stock, promoting clean transport, accelerating the penetration of renewable energy sources, and providing incentives for the development of new and innovative technologies to effectively address existing weaknesses/bottlenecks in the energy system and accelerate the deployment of new and innovative technologies. The Plan is on track for implementation, as all its Measures have been activated and a total of €242 million has already been disbursed (€157 million as pre-financing and €85 million with the fulfilment of the 14 milestones of the 1st tranche of the Plan). This amendment "opens the way" for the submission of the 2nd and 3rd payment requests following the formal approval of the amendment.
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