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The Council of Ministers has approved the re-announcement of the “Sponsorship Plan to Encourage Energy Upgrades by Local Self-Governing Authorities and Wider Public Sector Entities,” initially launched in 2022. The scheme has been significantly bolstered, with its budget increasing from €9 million to €20 million under the new REPowerEU Chapter of the Cyprus Recovery and Resilience Plan. The enhanced Grant Scheme aims to accelerate energy upgrade investments by Local Government Authorities (LGAs) and Legal Entities under Public Law (NPDD), focusing on the extensive energy improvements of existing building infrastructures. The initiative supports Cyprus’s national Renewable Energy Sources (RES) and Energy Saving (ENERGY) goals. Key objectives include reducing primary energy consumption by at least 30% from all supported projects. Buildings receiving funding must achieve a standard of Nearly Zero Energy Consumption, while other investments are expected to realize at least a 30% reduction in primary energy use. Eligible applicants include Local Government Authorities, partnerships of these authorities, and Legal Entities under Public Law. Organizations involved in economic activities or investments are excluded. The funding rate covers 100% of eligible costs, excluding VAT. The re-announced Grant Scheme includes amendments to enhance its effectiveness. The Management Committee of the RES and EXE Fund will soon announce the start date for proposal submissions, which will remain open until the budget is exhausted or until December 31, 2024, whichever comes first. Funded by the Recovery and Resilience Mechanism (Regulation (EU) 2021/241) under the “Rapid transition to a green economy” axis, the scheme is managed and implemented by the RES and EXE Fund’s Management Committee. |
