articles | 28 March 2014

Cyprus secures €50m to install smart meters

Cyprus has secured funding from NER300 of a pilot project, amounting to €50 million for the installment of 3,000 smart meters on the island.

The cash was secured as part of a joint effort involving the Electricity Authority of Cyprus (EAC) and the Agriculture Ministry, said Minister Nicos Kouyialis who was speaking at a joint news conference with Greek Minister of Environment, Energy and Climate Change and President of the EU Councils of Environment and Energy Yiannis Maniatis.

Kouyialis said the cabinet would approve the implementation of the project in the coming days. It would have great energy saving results for the island, he said. During a meeting they had earlier, Kouyialis and Maniatis discussed issues mainly concerning the new EU policy framework on climate and energy during the period 2020 – 2030 and agreed that it was extremely 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 two ministers decided to immediately 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. Maniatis underlined the importance of energy saving. Greece aimed at energy savings of up to 30% by 2030 he said.

NER300 is one of the world’s largest funding programmes for innovative low-carbon energy demonstration projects. The programme 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.

Source: Cyprus Mail

Cooperation Partners
  • Logo for Association of Cyprus Banks
  • Logo for Cyprus Shipping Chamber
  • Logo for Invest Cyprus
  • Logo for Cyprus Investment Funds Association
  • Logo for Cyprus Chamber of Commerce and Industry
  • Logo for CYFA Cyprus
  • Logo for Ministry of Energy, Commerce, Industry and Tourism
  • Logo for Cyprus International Businesses Association
  • Logo for Love Cyprus Deputy Ministry of Tourism