The key objective is to achieve a reduction in primary energy consumption of at least 30%, on average, from all supported investments.
Two new Grant Schemes of the Ministry of Energy, Trade and Industry, totalling €49 million, for the Energy Upgrading of Small and Medium Enterprises (SMEs), Non-Profit Organizations (NGOs), Local Authorities and Public Sector Entities, were approved by the Council of Ministers at today's meeting. The proposals for the Plans, which are included in the Recovery and Resilience Plan 2021-2026 "Cyprus _ tomorrow" and will be funded by the EU's Recovery and Resilience Mechanism, were presented by the competent Minister of Energy, Ms Natasa Pileidou.
The Implementation Guides for the Plans, with all the details, will be published within the week on the website of the Ministry of Energy, Trade and Industry https:/meci.gov.cy/gr/.
Specifically, based on the Decisions of the Council of Ministers, €40 million will be allocated for the "Promotion of Energy Efficiency Investments by SMEs and Non-Profit Organizations (NGOs)" Project, which aims to promote energy saving investments (EX.E) in existing buildings and facilities owned and/or used by SMEs (€36 million) and NGOs (€4 million). It will cover, inter alia, the energy upgrading of buildings, the implementation of EE measures in the production/operational processes of SMEs, energy audits, the adoption of digital technologies (e.g. automation and energy consumption control systems) and the installation of Renewable Energy Sources (RES) systems.
The main objective of the Plan is to achieve a reduction in primary energy consumption of at least 35% in buildings or 30% in production processes.
The sponsorship rate will be 40% of eligible costs for SMEs and 60% for NGOs, while the maximum amount of sponsorship that each beneficiary can receive will be determined by the savings rate achieved and the type of investment chosen. In the smaller investment category, for beneficiaries who will achieve the minimum possible energy saving rate, it is possible to secure sponsorship up to €100,000, while for beneficiaries who will choose to achieve the larger category (upgrading Buildings to Near Zero Energy Consumption Buildings), the maximum amount of sponsorship can be up to €300.000. The Scheme is not retroactive and does not cover any expenditure implemented before the date of submission of each application.
The second Grant Scheme approved today by the Council of Ministers has a total budget of €9 million and concerns the "Encouragement of Energy Upgrading by Local Authorities and Public Sector Entities". It provides financial incentives, in the form of a grant, for the conversion of public buildings into Near Zero Energy Buildings, as well as for the implementation of RES and/or EE investments in other infrastructures of Local Authorities and Public Entities.
The basic requirement of the Plan, which will subsidize 100% of the eligible costs, with a maximum grant amount of €700,000 and a minimum proposal amount of €10,000 (all amounts are net of VAT), is the achievement of a reduction in primary energy consumption of at least 30%, on average, from all supported investments.
The funds available for the operation of the Plan, which as mentioned above is financed by the EU Recovery and Resilience Mechanism under the "Rapid Transition to a Green Economy" axis, are included in the Medium Term Financial Framework of the RES and EE Fund.
Again, the submission of applications will start on a date to be determined by a later announcement and will remain in force until 31/12/2023 or until the available budget is exhausted or committed.
Again, the submission of applications will start on a date to be determined by a later announcement and will remain in force until 31/12/2023 or until the available budget is exhausted or committed. The Scheme is not retroactive and does not cover any expenditure incurred before the date of submission of each application.
(GA)
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