Papanastasiou: Cyprus aims to increase renewable energy

The aim is for 33.17% of Cyprus' total consumption to come from renewable energy by 2030, based on the updated National Energy and Climate plan, Minister of Energy, Commerce and Industry George Papanastasiou said addressing the annual General Assembly of the Energy Saving Association.

He said the goal is to reduce energy cost to the benefit of all consumers therefore the energy system is undergoing a complete restructuring and transformation. He further detailed the actions taken as well as the next steps in tackling energy challenges and reducing cost. Papanastasiou referred inter alia to the introduction of competitive electricity market, to the completion of the infrastructure for natural gas imports, to the expansion of renewable sources and the increase of energy storage capacity.

The updated National Energy and Climate Plan, he said, that was approved last year by the Council of Ministers and submitted to the European Commission in December 2024, is "a detailed map for our transition to a green economy".

The new plan provides that Cyprus will achieve a 33.17% share of renewable energy in gross final energy consumption by the year 2030 and the maximum energy usage will be 1.8 million tonnes of oil equivalence, he added.

By 2030, the national mandatory target for cumulative energy savings of 349.04 thousand tonnes of oil equivalent tonnes in end-use will be achieved, Papanastasiou also said. In fact, he went on to add, 15.1% of the planned energy savings will be achieved by taking measures for the benefit of energy-poor households and other vulnerable groups of the population.

On his part, the President of the Cyprus Employers and Industrialists Federation (OEB), Antonis Antoniou, praised the long-standing contribution of the Pancyprian Energy Saving Association in promoting energy efficiency and underlined the Federation's steadfast support to the Association, of which it has been a member since 2013.

"Energy saving is not only a priority, but also a strategic choice for a sustainable and competitive future", Antoniou said, adding that shaping a resilient and competitive economic environment requires targeted and decisive interventions in this course.

The President of the Pancyprian Energy Saving Association, George Georgiou, delivered a speech outlining the Association's activities, and pointed out the importance of energy saving as a key pillar towards a sustainable development and business competitiveness.

(Source & photo: PIO)