Large businesses to receive €17 million to boost energy efficiency

The Ministry of Energy has announced a call for proposals under the grant scheme for energy upgrading and boosting the competitiveness of large businesses, totalling €17 million, funded by the European Union (EU), Recovery and Resilience Plan (RRP).

According to a statement by the Ministry, €10 million comes from the new EU REPowerEU Plan, through the corresponding capital in Cyprus’ RRP and, therefore, only concerns categories of eligible costs that serve the objectives of REPowerEU.

The aim of the project is to support, develop, and upgrade Large Enterprises, including their energy upgrading.

Financial support consists of a grant for defined eligible costs relating to the promotion of energy-saving investments in buildings, installations, and/or equipment, and the transition of enterprises’ operations to a circular model.

The maximum total amount of grant that can be awarded to a large enterprise is €750,000.

Beneficiaries of the plan are new or existing Large Enterprises, established or to be established by Cyprus’ government, excluding areas in which Cyprus does not exercise effective control.

Eligible business activities do not include activities related to the fisheries and aquaculture sectors, as well as the production of wine and vinegar from wine listed in Part II of Annex VII of Regulation (EU) 1308/2013.

The application period starts on April 26, 2024, at 9.00 and applications will only be accepted via this website https://www.fundingapps.meci.gov.cy/Home/preIndex , using Chrome, Firefox, and Edge, until June 28, 2024 at 23.59.

Priority will be determined based on the order of submission (direct review), and the maximum number of approvals will not exceed the available Plan budget.

Finally, interested parties can obtain the final Guide to the Scheme, which sets out all the details and other required forms or documents, from the website of the Industry and Technology Service.

For further information, interested parties may contact the relevant officials at 22867149 and 22409323.