Cyprus' first private power plant will be constructed in Cyprus.
The owner is Paramount Energy Corporation (Ellinas Energy group of companies).
The power plant will be built in Tochni, on the Limassol - Larnaca Road.
According to the release, the plant will use natural gas to generate electricity. Paramount Energy Corporation expects the new power plant to generate up to 105 megawatts of electricity.
Now Paramount Energy Corporation is waiting for a construction permission, which should be issued in the near future.
Recently, Larnaca District Officer, Odysseas Hadjistefanou, said that the delay in issuing a permit was due to a thorough check of all project documents. At the same time, he noted that consultations with the Department of Environment have been completed.
By the way, one of the main requirements is the organization of uninterrupted gas supplies for electricity generation. It is expected that after the commissioning of a large-scale facility, the level of competition in the electricity production market will increase in Cyprus, as well as electricity prices will decrease.
The cost of the project is estimated at 200 million euros.
Detailed information about all projects in Larnaca can be obtained from the specialists of the DOM Real Estate Agency by phone +357 24 030062, or in person at: Agias Faneromenis 21, Faneromeni 6025, Larnaca, Cyprus.