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EIB “ready to support Cyprus’ shift from oil-based energy to a more sustainable system”

07:24 - 26 April 2025

Economy Reporter

Vice-President at the European Investment Bank Kyriacos Kakouris has described an investment plan meeting with representatives of the Electricity Authority of Cyprus (EAC) as “productive” and reiterated EIB’s support of the island’s increased sustainability.

More specifically, in a LinkedIn post, Kakouris said the meeting was held to discuss the EAC’s investment plan for grid modernisation, smart metering, and battery storage.

“The EIB stands ready to support Cyprus’ shift from oil-based energy to a more sustainable, secure, and climate-resilient system,” Kakouris noted, adding, “This partnership reflects our strong commitment to Cyprus’ energy transition and our broader role as Europe’s Climate Bank.”

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