EAC goes ahead with green en­ergy plans

Financial Mirror (Cyprus) - - CYPRUS -

The Elec­tric­ity Au­thor­ity of Cyprus (EAC) is mov­ing ahead with plans for greener en­ergy pro­duc­tion, so the is­land can achieve its EU 2020 goals, which state that 16% of all elec­tric en­ergy is pro­duced from re­new­able en­ergy sources (RES).

While ad­mit­ting that the tran­si­tion away from oil-pow­ered fa­cil­i­ties to nat­u­ral gas re­mains the great­est chal­lenge for the EAC, its chair­man An­dreas Maran­gos said that the or­gan­i­sa­tion is also faced with the chal­lenge of im­ple­ment­ing RES projects which are vi­tal for Cyprus.

He said that if the coun­try’s RES tar­gets are not met, Brus­sels is likely to im­pose sanc­tions that will have an eco­nomic im­pact on the state and the pub­lic.

On projects in­volv­ing re­new­able en­ergy sources, Maran­gos said that the EAC has re­cently con­cluded an agree­ment with the Church of Cyprus for the con­struc­tion of a pho­to­voltaic park in Li­mas­sol’s Achera area. The fa­cil­ity is pro­jected to gen­er­ate 66 megawatts and is to be com­pleted in two stages on church land. Maran­gos said that the au­thor­ity has set in mo­tion the pho­to­voltaic park in Tseri with a ca­pac­ity of 3 MW and has plans to go ahead with the con­struc­tion of a 20MW so­lar en­ergy park in Akrotiri.

Ac­cord­ing to the cur­rent en­ergy pro­duc­tion break­down pre­sented by Maran­gos, the Vasi­liko power sta­tion gen­er­ates 62.7% of the grid’s elec­tri­cal power, fol­lowed by the Dheke­lia sta­tion with 36.5% and the Moni sta­tion with 0.8%.

Maran­gos said that on the ba­sis of a de­ci­sion of Cyprus’ En­ergy Reg­u­la­tory Au­thor­ity (CERA), EAC has plans for the in­stal­la­tion of 400,000 smart me­ters, re­plac­ing ex­ist­ing ones.

“This mas­sive smart me­ter in­stal­la­tion, to be com­pleted over eight years, is the pre­cur­sor of trans­form­ing the dis­tri­bu­tion net­work into a smart grid. Through the two-way flow of en­ergy and in­for­ma­tion, the goal of sus­tain­able en­ergy de­vel­op­ment will be achieved, “he said.

Maran­gos pre­sented the or­gan­i­sa­tion’s ac­tiv­ity re­port for 2017 at a press con­fer­ence in Ni­cosia.

Ac­cord­ing to EAC’s chair­man, the or­gan­i­sa­tion gen­er­ated prof­its of EUR 50.7 mln in 2017, drop­ping from EUR 65.8 mln in 2016, de­spite sales ris­ing by EUR 94.4 mln, or 18.3%, last year.

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