Energy Minister to propose crucial budget for Renewable Energy Fund

07:51 - 19 February 2024

Economy Reporter

Minister of Energy, Commerce, and Industry George Papanastasiou has announced plans to present a significant budget proposal for the Renewable Energy Sources and Energy Conservation Fund at the upcoming Cabinet meeting.

This fund, he explained, "finances all our green infrastructure related to green energy production."

"It's a crucial proposal that requires our attention, and we must explain to the Cabinet why this fund must remain robust," he added speaking after the inauguration of the "Tassos Papadopoulos Park" in Lakatamia Municipality.

Replying to questions about the implementation timeline for the "Solar Panels for All" plan, he said that the aim was to start accepting applications on the digital platform by the end of February.

He stressed the importance of the proposal's approval for the Renewable Energy Sources and Energy Conservation Fund to financially support various categories, including energy-saving projects and promoting energy production from green sources.

When asked about the fund's budget, Papanastasiou mentioned that approximately 30 million euros were allocated for the "Solar Panels for All" initiative, with additional funding expected to support further applications.

Asked to comment on his visit to Egypt on the evening of 18 Februaru, Papanastasiou said it's a gathering of companies and states to discuss energy issues.

The Minister underscored the significance of the recent confirmatory drilling at "Cronos" gas discovery within Block 6 of the Exclusive Economic Zone (EEZ) of the Republic of Cyprus, saying it was “great news for Cyprus” adding that he expected to discuss this development in Egypt.

(Source: CNA)

Energy Minister to propose crucial budget for Renewable Energy Fund

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