Press Releases

On behalf of the Republic of Cyprus I am pleased and honoured to welcome you all in Nicosia, for this auspicious occasion of the 7^th International Conference on Renewable Energy Sources and Energy Efficiency.

Co-organised by the International Renewable Energy Agency (IRENA), the Cyprus Chamber of Commerce and Industry and the Ministry of Energy, Commerce and Industry of Cyprus, the conference is certainly timely, aiming to utilise the exchange of best practices and experiential knowledge to advance the accelerated uptake of renewables and energy efficiency in economies similar to the one in Cyprus. At a crucial juncture, when Europe and the East Mediterranean region are urgently looking for ways to intensify efforts to tackle both the climate and energy crises, key stakeholders and industry experts are gathered here, in one room, and for two very busy days are tasked with coming up with tangible solutions.

We are very happy that the list of the conference’s delegates also includes representatives of United Nations Peacekeeping Missions from around the world. Cyprus, as you know, has fully supported and has participated from the very beginning, in IRENA’s and UN’s joint initiative to decarbonise the installations of UN Peacekeeping Missions globally, in line with the UN Secretary General’s Climate Action Plan that calls for 80% renewable energy by 2030.

Cyprus itself, as most countries in our region, is already moving forward with a much-needed revamp of our overall energy strategy. This, of course, is also in accordance with our shared ambition to transform the region into a green hub and will be the topic of our discussion, with my MED9 colleagues, during the conference’s 2^nd Plenary Session.

Within this context, the Government has set as its top priorities the reduction of electricity cost for households and businesses, the enhancement of our island’s security of energy supply, the acceleration of our energy transition and the contribution to Europe’s efforts to diversify energy sources and routes.

Inter alia, the Ministry of Energy, Commerce and Industry, together with other competent Ministries and stakeholders, is currently in the process of revising our 2030 and 2050 policies, including our National Energy and Climate plan, taking into account the region’s new geopolitical state and the uniqueness of Cyprus as an island country.

Cyprus’ National Energy and Climate Plan, which is in line with the principles and objectives of IRENA’s Long Term Strategy, elaborates on the five dimensions of the Energy Union and sets the national targets, as well as the mixture of policies and measures necessary for reaching our energy and climate obligations for 2030. Consequently, it also paves the way for our 2050 net zero emissions future, with our revisions aimed at enhancing the ambition of our renewables and energy efficiency targets, based on the EU’s “REPowerEU” and “Fit for 55” packages. A draft of our revised Plan was submitted for review to the European Commission in July, whereas the final text is expected to be ready by June 2024.

I must point out here that Cyprus is already investing heavily in our energy transition. 41% of the funds budgeted for the Cyprus Recovery and Resilience Plan are being used to accelerate transition to a green economy, and among the notable reforms we are working to implement are:

• the introduction of natural gas, a cleaner fuel, for electricity production and, possibly, for the production of blue hydrogen,
• the electricity interconnection between Israel, Cyprus and Greece,
• the introduction of energy storage systems, and
• the expansion, upgrade and digitalisation of the electricity network, including the mass rollout of smart meters.
• the digitalisation of the RES permitting process by introducing the Digital One Stop Shop platform.

Dear participants,

We are very pleased to report that IRENA has been, and continues to be, a valued partner in Cyprus’ energy transition efforts. The Agency has worked closely with Cypriot authorities over the past years, providing our country with vital technical assistance whenever needed, including in the development of the “Renewable Energy Roadmap for the Republic of Cyprus” back in 2015, essentially the precursor of our National Energy and Climate Plan.

Another notable and more recent example of IRENA’s support to Cyprus, and in particular to the Ministry of Energy, involves using advanced modelling tools (FLEXTOOL) to develop our new support scheme for Renewables with Battery Storage Systems (Hybrid Systems).

As such, I wish to take this opportunity to thank everyone at IRENA, on behalf of the Republic of Cyprus, for their invaluable and continued support.

In closing, I would also like to thank you all for participating in this 7^th International Conference on Renewable Energy Sources and Energy Efficiency and to wish you a pleasant and productive stay in Cyprus.

(GA)