How much does it cost to invest in a Cyprus energy storage project

The scheme has a competitive character, offering EUR 35 million ($36 million) for the purchase and installation of energy storage units alongside existing PV, wind and biomass power plants. [pdf]

Northern Cyprus promotes new energy storage

The Minister said that the Electricity Authority of Cyprus (EAC) has already applied to install storage units at its generation facilities in Dekeleia and Moni, and it is expected that storage infrastructure would be operational within 16 months, which will significantly reduce power curtailment and stabilise the grid. [pdf]

Cyprus centralized energy storage system

The Cyprus Energy Regulatory Authority (CERA) has approved the installation of the country’s first large-scale public energy storage systems, authorizing the Cyprus Transmission System Operator (TSOC) to develop, own, and operate them directly—without open tender procedures. [pdf]

FAQS about Cyprus centralized energy storage system

How many energy storage applications have been approved in Cyprus?

The Cyprus Energy Regulatory Authority (CERA) representatives reported establishing a regulatory framework for energy storage in 2019, followed by market rules approval in 2021. The Cyprus Transmission System Operator has received 13 storage applications totaling 224 megawatts capacity, with eight applications processed and five under review.

Why does Cyprus waste so much energy?

AKEL MP Costas Costa characterised Cyprus as “the only country in the world where thousands of megawatt-hours go unused due to lack of centralised green energy storage systems,” adding: “During the day we waste megawatt-hours because we lack storage, and at night we are one step away from blackouts.”

Can TSOC deploy large-scale energy storage at three substations?

Regulatory greenlight allows TSOC to urgently deploy large-scale energy storage at three substations.