Parliament on Friday narrowly voted in favour of a €60 million government guarantee to a private company overseeing the building of a 50MW solar power farm.
The project is funded by the European Investment Bank under the NER300 plan which pushes for greater renewable energy production.
Akel MP Stefanos Stefanou said he voted in favour of the project which “by the default, the government is very unlikely to do.”
He also referred to Cyprus’ targets on renewable energy, saying “that if the project is not done, we will end up facing more delays and more fines.”
He was referring to the EU fines imposed on Cyprus for failing to meet its RES obligations.
The issue has been passed to and fro. It was debated in five House finance committee sessions and went to the house four times.
Source: Cyprus Mail