The Ministry of Energy, Commerce and Industry of Cyprus has announced the renewal of the "Energy Efficiency Improvement Programme for SMEs and Non-Profit Organisations".
Applications will be accepted shortly.
The grant scheme aims to promote energy saving investments in buildings and facilities owned and/or used by SMEs and non-profit organisations. The grant scheme includes, among others: energy upgrading of buildings, energy audits, introduction of digital technologies, installation of renewable energy systems.
It is worth noting that this time the Cypriot government has allocated €24 million to support small and medium-sized enterprises (SMEs) and non-profit organisations (NPOs). According to the established rules, beneficiaries will be able to count on support of 40% of their costs. The maximum amount each applicant can receive depends on the percentage of energy saved and the type of investment chosen. It is worth mentioning that in mountainous and less-favoured areas the amount of state support can be up to 60%. At the same time, the minimum amount of the subsidy is 100 thousand euros and the maximum is 300 thousand euros.
The main objective of the programme is to reduce primary energy consumption by at least 30%.
It should be recalled that primary energy is a form of energy that has not been artificially transformed.
The beneficiaries of the programme are small and medium-sized enterprises operating in all sectors of the economy. The Plan also covers investments by some non-profit organisations that are not engaged in economic activities.
Types of investments covered by the scheme
- Modernisation without the addition of PV: SME beneficiaries, 40% subsidy rate of eligible costs, maximum subsidy amount 100 thousand euros.
- Retrofitting with the addition of PV: SME beneficiaries, 40% subsidy rate of eligible costs, maximum subsidy amount of 150 thousand euros.
- Energy retrofitting for the renovation of existing buildings into near zero energy buildings: SME and LE beneficiaries, 40% aid rate for SMEs and 60% for LEs, maximum aid amount of EUR 300000.
- Energy retrofitting of LE buildings: only LEs are beneficiaries, subsidy rate 60% of eligible costs, maximum subsidy amount €150,000.
Applications must include assessments by qualified experts or energy auditors to verify compliance with the technical criteria of the scheme. The Ministry has stated that the building modernisation process cannot start before the application is submitted.