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11 subsidy schemes to provide €148m for home and business energy and digital upgrades

A total of 11 new subsidy scheme projects amounting to €148 million are anticipated to be implemented by the Ministry of Energy, Commerce and Industry for the period 2024 - 2025.

Also, in the assessment of the Ministry’s activities during the first year of Nikos Christodoulides’ presidency, the competent minister, George Papanastasiou, referred to the announcements of subsidy schemes amounting to €205 million for the 2023 - 2024.

Among other things, the announcements concern funding for the installation of photovoltaics and roof thermal insulation, photovoltaics for vehicle charging, solar water heaters and energy upgrading by Local Authorities for the amount of €137.5 million, the "Save - Upgrade in Homes" project for the amount of €50 million, the plan for the digital upgrading of businesses for the amount of €10 million and the creation, modernisation and digital upgrade of units.

Schemes also cover the processing and/or marketing of agricultural products amounting for €3 million, the investment plan in the wine sector amounting to €3 million, as well as the de minimis sponsorships for participation in exhibitions (2023) amounting to €2.2 million.

The new €148 million subsidy scheme announcements

Of the total of 11 new subsidies coming out of the Ministry of Energy, Commerce and Industry for the period 2024 - 2025, three have already been announced.

These are the €17 million Energy Upgrade and Strengthening of the Competitiveness of Large Businesses Plan, the €20 million New Business Activity Support Plan and the €14 million Circular Economy Plan.

The value of the Business Outsourcing Plan, which will be announced in the second quarter of 2024, amounts to €1 million.

A total of €30 million is to be spent on the Save Upgrading Residential Scheme, which is expected to be announced in the third quarter of 2024, while the value of the Save-Upgrading Scheme on SMEs and Non-Profit Organisations reaches €20 million.

€10 million is the value of the Plan for the Creation and Modernisation of Agricultural Products Processing and Trading Units, with the announcement being placed in the fourth quarter of 2024.

The Business Digital Upgrade Plan, which will be announced within the second quarter of the year, is estimated at a value €10 million, while the cost of the Grant Scheme to Encourage Energy Upgrades by Local Authorities and Wider Public Sector Bodies which is expected to be announced in the same period, reaches €20 million.

For the Grant Scheme for the Installation or Replacement of Solar Hot Water Production Systems for use in Residences, the announcement of which is estimated to be made in the second half of 2024, €1 million is expected to be spent.

The cost of the Plan for Creating and Developing Partnerships (Clusters) is estimated at €5 million, with an expected announcement in the first half of 2025.

(Source: InBusinessNews)

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