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Cyprus to announce €45m in energy upgrades for buildings

17 June, 2014

A new scheme aimed at funding energy upgrades to existing buildings is being prepared by the Energy Ministry.
A total of €45 mln will be given to upgrade the energy efficiency of existing buildings of the wider public sector, houses and commercial and industrial premises.
The scheme is expected to be announced after summer and is co-financed by the EU.
The Ministry said it is also is preparing a study to create a model on the basis of which the government will plan its long-term energy policy, Energy Minister Yiorgos Lakkotrypis told the 2nd public consultation on “Support schemes for the promotion of renewable energy by 2020”.
This model will examine various scenarios and the prospects in the energy sector.
Besides the input of renewable energy into the electricity mix of Cyprus, the study aims at the reduction of energy costs, examining various scenarios such as the exploitation of natural gas reserves, energy storage and the use of electric vehicles.
Lakkotrypis noted that the government’s “top priority” is to implement targeted measures to reduce the cost of electricity for households and businesses.
The use of renewable energy and energy saving measures can contribute significantly to this end, he said.