Filenews 21 May 2025 - by Chrysanthos Manolis
Information from the Liberal Party states that the Government is considering the concession of about 30 million euros. to the Transmission System Owner (EAC), as aid for the installation of electricity storage systems in three substations of the Electricity Authority.
Based on legislation approved a few weeks ago, the management of central storage will be carried out by the independent Cyprus Transmission System Operator (TSO), with the main objective of ensuring balanced and safe operation of the electricity system, avoiding interruptions in electricity supply in cases of instability or serious fluctuation of production and demand.
The concession of €30 million, if finalized, will be made by the Just Transition Fund (European funds).
According to the website of the Directorate-General for Development, the Just Transition Fund (JTF) is a new financial instrument of the European Union, which aims at a just transition to a climate-neutral economy, supporting the regions most affected by the transition towards climate neutrality, in order to avoid increasing regional disparities. The resources allocated for Cyprus by the JTF in the 2021-2027 programming period amount to €101.1 million. and will be utilized through the Cohesion Policy Programme "THALIA 2021-2027".
As no tenders have yet been announced for the installation of storage facilities in three EAC substations, it is not clear what the estimated cost is, nor the percentage that the €30 million sponsorship will cover for EAC. Which aims to reduce the final burden on electricity consumers.
EAC has also started the process of installing electricity storage batteries in Dhekelia, for 160 megawatt hours. This infrastructure, however, will participate in the competitive electricity market, unlike the central storage managed by the TSO.
