articles | 31 May 2024

Cyprus Stock Exchange and Hellenic Energy Exchange sign partnership agreement

The Cyprus Stock Exchange (CSE) and the Hellenic Energy Exchange (HEnEx) this week signed a Memorandum of Understanding (MoU) during a ceremony held at the Presidential Palace.

According to an official announcement, the event was attended by Undersecretary to the President Irene Piki and Director of the Office of the President of the Republic of Cyprus Charalambos Charalambous. On behalf of the CSE, the MoU was signed by the President of the Stock Exchange Council Marinos Christodoulides.

The CEO of HEnEx, Alexandros Papageorgiou, signed on behalf of the Hellenic Energy Exchange. Papageorgiou emphasised HEnEx’s commitment to supporting the Cypriot market in achieving its green transition goals with the resources at its disposal. Papageorgiou explained that the MoU focuses on the market for Guarantee of Origin certificates, and on enhancing cooperation to better organise and manage these markets. He highlighted that energy markets are European markets, and that their organisation and management in Europe have already created numerous opportunities to accelerate the green transition and support investments in the green sector. “We are here today to support the Cypriot market in reaching its set goals,” Papageorgiou added. HEnEx’s intention, Papageorgiou noted, is to broaden not only the products it offers to participants but also its activities through collaboration with neighbouring stock exchanges in the region, particularly with one of its shareholders, the Cyprus Stock Exchange.

Prior to the signing, the regular monthly meeting of the CSE, along with the Board of Directors of HEnEx, took place. This was an exception as mentioned by the President of the CSE Council, Marinos Christodoulides, in his address. According to a CSE announcement regarding the MoU, this agreement is part of the CSE’s broader strategy to develop new activities, markets, products, and services, with a particular focus on the energy sector.

The CSE has been a founding shareholder in HEnEx since late 2019, through which it gains significant knowledge and experience, and leverages business opportunities in the energy sector. 

The signing of the MoU further expands the cooperation between the CSE and HEnEx. Through the agreement on Guarantee of Origin certificates, the aim is to enable the utilisation of resources from the sale of these certificates and channel them into renewable energy sources as part of the green transition.

Source: Cyprus Mail

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