Cyprus has launched its first large scale battery storage subsidy program targeting large-scale renewable energy plants, aiming to deploy approximately 150 MW (350 MWh) of solar storage capacity. The primary objective of this new subsidy plan is to decrease the island's electricity costs.
This will be achieved by using solar PV and battery storage to absorb currently curtailed electricity and inject it into the grid, providing cheaper power. The competitive program offers €35 million ($36 million) for the purchase and installation of solar storage systems at existing photovoltaic, wind, and biomass power plants.
Here are the details of the Subsidy Plan:
|
Category |
Feed-in Tariff (up to) |
Subsidy (Capital Expenditure) |
Subsidy Cap |
Total Subsidy Allocation |
Program Duration |
Tender Process |
|
Solar PV and Wind Farms |
€166/MWh |
Up to €100,000/MWh |
€300,000/MW |
€25 million (largest share) |
Until 2027 |
Open tenders conducted |
|
Biomass Plants |
€166/MWh |
Up to €100,000/MWh |
€115,000/MW |
€25 million (largest share) |
Until 2027 |
Open tenders conducted |
Solar Power In Cyprus
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Conclusion
The Cyprus 2025 Large-Scale Battery Storage Subsidy Plan presents a unique opportunity to reduce electricity costs and promote renewable energy. YouthPOWER is your trusted partner on this journey, offering advanced energy storage solutions and a dedication to excellence. Contact us today at sales@youth-power.net to learn more about how we can help you take advantage of this subsidy plan and achieve your energy goals. Let's work together to create a brighter, greener future.
Post time: Feb-14-2025