New development aims to strengthen EAC network by 72MW over five years

A new major development is set to materialise in Nicosia, aiming to boost the island's renewable energy sector.

More specifically, a photovoltaic park with a power of 72MW, located within the administrative boundaries of the communities of Kokkinotrimithia and Akaki of Nicosia is currently in public consultation before the Department of the Environment.

The proposed development aims to produce electricity through the exploitation of solar energy and then distribute it to the Electricity Authority of Cyprus (EAC) network.

According to the submitted Environmental Study, the implementation cost of the project is estimated at €77,150,000 (seventy-seven million and one hundred and fifty thousand euros), which will be covered by the project's Development Agency.

The owners of the project (Development Agency), as mentioned in the Environmental Study, are the companies AGM Solar Power Limited and AGM Lightpower Limited.

Features of the project

According to the design, the proposed development unit will be equipped with photovoltaic panels with a nominal power of 630 W each. The panels are expected to be imported from abroad.

The photovoltaic system that will be installed is anticipated to function as a power generation unit and is a classic application of converting solar energy into electricity through the operation of the elements that make up the photovoltaic panels and converting it into electricity

The Environmental Study states that the project can be built in one, two or three phases depending on the period when the licensing will be completed, geopolitical developments, the cost of construction, the sale price of the energy produced, financing, the policies being formed in the energy sector, as well as some other volatile factors.

While one phase would be preferable, but the most likely scenario is for the project to be implemented in two phases.

In case the proposed development is implemented in one phase, it is expected that the connection to the grid will be made by 2026, while if it is done in two phases, by 2027 and finally if it is carried out in three phases, the connection to the grid is expected to take place in 2028.

(Source: IN BusinessNews)