There is clear evidence that, in every EU member state, including Cyprus, green energy is the only way forward. Ending our dependency on fossil fuels and implementing projects that use Renewable Energy Sources (RES) is a challenge that we are all called upon to deal with.
In this context, EAC wishes to develop RES-based projects in accordance with European Union directives, which seek to reduce CO2 emissions and increase the use of alternative sources in electricity generation. In its report on Cyprus (2022), the European Commission states that, “Cyprus needs to ramp up renewable energy sources in electricity towards the EU average. Therefore, through its ownership of the incumbent energy supplier (the Electricity Authority of Cyprus), the State could play a significant role in achieving the green transition. This would also help reduce country's high energy dependency on imports."
The more RES projects are incorporated into EAC's power generation mix, the greater the reduction in the cost of electricity will be and, at the same time a strong, this will have a positive environmental impact.
The Organisation does not expect to face obstacles to an endeavour that will bring such an important social benefit. In the current global energy crisis, which is affecting us all, the main negative factor is high cost. For this reason, we all have a responsibility to quickly take effective steps to deal with it.
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Press Office: 15 June 2022