Wind solar storage project financing options in Cyprus 2030

How will Cyprus achieve a higher share of renewables?

Cyprus has set out to attain a higher share of renewables, and this roadmap helps to assess op-timal investment strategies in the power sector. Solar PV and wind power will play a major role in the roadmap to 2030. Roadmap findings will play an important role to revise existing energy policies and develop new ones.

Can a long-term energy planning model be used in Cyprus?

In order to examine options for economically optimal deployment of renewable energy in Cyprus under diferent scenarios, and to un-derstand the potential impact of key policy decisions on the power generation mix, a long-term energy planning model of the cur-rent power system in Cyprus was deve loped.

What percentage of Cyprus' electricity will come from renewables in 2030?

Based on this analysis, between 25% and 40% of Cyprus’ electricity supply can come from renewables in 2030, in the economically optimal mix. Solar PV is the predominant renewable energy technology in all scenarios, supplying between 15% and 27% of the electricity consumed in Cyprus in 2030.

Will RETS contribute to Cyprus' electricity mix in 2030?

RETs have the potential to provide a sub-stantial contribution to the electricity mix of Cyprus. Based on this analysis, between 25% and 40% of Cyprus’ electricity supply can come from renewables in 2030, in the economically optimal mix.

Why does Cyprus have a high electricity price?

Cyprus has one of the highest electricity prices in Europe, due to high reliance on liquid fuel for power generation. However, a major transition is imminent for electricity supply. On one hand, indigenous natural gas discoveries are to be developed in the coming years.

How much res will be installed by 2023?

The ROC anticipates a minimum additional capacity of 167.5 MW to be installed by 2023 but wants to raise total RES penetration in the electricity sector by an additional 1,000 MW, mostly through solar power.