Cyprus exports energy from renewables


By the end of 2027, Cyprus will have a surplus of renewable energy that could be exported or traded, in addition to quantities that may be available from Egypt, Israel and Greece, the President Nicos Anastasiades in his speech at the Eastern Mediterranean Gas Energy Transition Forum Conference held in Nicosia.

Anastasiades noted that Cyprus can become a net exporter of electricity with capacities ranging from 120 gigawatt hours in 2027 to over 1,800 GWh in 2033.

He said that Cyprus, due to its strategic location and its long-standing excellent relations and partnerships in the field of energy with neighboring countries, at bilateral, regional and multilateral levels, is ready to make its own contribution and to play an active role in the energy solutions that this region has to offer.

“A role that we have already assumed during the start of the construction phase of the EuroAsia interconnector between Cyprus, Greece and Israel, as well as the preparations underway for the launch also of the EuroAfrica interconnector, which will link Cyprus, the Greece and Egypt,” he said. added.

Anastasiades said: “According to the current state and planning, it is estimated that by the end of 2027, once the first interconnector is in place, Cyprus will have excess renewable energy that could be exported or traded, in addition to quantities that may be available in Egypt, Israel and Greece.

“Therefore, Cyprus can become a net exporter of electricity with capacities ranging from 120 GWh in 2027, up to 1,000 GWh in 2030 and exceeding 1,800 GWh in 2033,” he added.

He noted: “We are also ready to examine the possibilities and proposals for connecting various natural gas fields in Cyprus-Israel-Egypt, with the accession of Lebanon in the coming days, with existing or new infrastructures, at through which gas can be exported to Europe. .”

Regarding the East Med’s potential contribution to EU efforts to diversify energy sources and routes, the President said that this could be achieved by transferring natural gas from the East Med, either in the form of LNG, either by gas pipelines, the hydrogen that will be produced in the region in the medium and long term, and clean energy from renewable energies exported to Europe via electricity interconnections, stressing that “the Eastern Mediterranean can play a key role to this end”.

Previous Cancellations of Strawberry Fields, This That, Yours and Owls raise a new Australian live music threat
Next Mid and Small Cap Picks: ETMarkets Smart Talk: In Earnings Season, Go for Stocks Specific to Mid and Small Caps: Arpit Jain, Arihant Capital