Scheme for Energy Upgrade and Enhancement of large enterprises competitiveness
Summary
The REPowerEU chapter addresses the challenge of reducing reliance on fossil fuels. The objectives of the component are to strongly reduce Cyprus’ dependence from imported fossil fuels in general. The new RePowerEU chapter contributes to the achievement of Cyprus’s energy efficiency obligations and targets set for 2030, under the National Energy and Climate Plan. In order to limit its energy dependence, Cyprus shall further invest in energy efficiency improvements in buildings and road transport and accelerate the deployment of renewables.
The measures included in the REPowerEU chapter address most aspects of recent country-specific recommendations in the field of energy, as they shall foster research and innovation in the field of green transition and energy production, storage, transmission and distribution solutions, promote renewables and accelerate energy efficiency measures in various buildings in the public and private sector, enhance the regulatory framework for the operation of Energy Communities, and promote widespread use of Electric Vehicles.
The implementation of the measures are all expected to contribute to reducing dependency on fossil fuels. Increasing the share of renewable energy sources has a cross-border and multi-country dimension because it contributes to securing the energy supply in the Union as a whole.
Programme Name
Programme Description
The REPowerEU chapter addresses the challenge of reducing reliance on fossil fuels. The objectives of the component are to strongly reduce Cyprus’ dependence from imported fossil fuels in general. The new RePowerEU chapter contributes to the achievement of Cyprus’s energy efficiency obligations and targets set for 2030, under the National Energy and Climate Plan. In order to limit its energy dependence, Cyprus shall further invest in energy efficiency improvements in buildings and road transport and accelerate the deployment of renewables.
The measures included in the REPowerEU chapter address most aspects of recent country-specific recommendations in the field of energy, as they shall foster research and innovation in the field of green transition and energy production, storage, transmission and distribution solutions, promote renewables and accelerate energy efficiency measures in various buildings in the public and private sector, enhance the regulatory framework for the operation of Energy Communities, and promote widespread use of Electric Vehicles.
The implementation of the measures are all expected to contribute to reducing dependency on fossil fuels. Increasing the share of renewable energy sources has a cross-border and multi-country dimension because it contributes to securing the energy supply in the Union as a whole.
Call
Detailed Call Description
The Scheme is included in the Recovery and Resilience Scheme (RRP) of Cyprus for the period 2021 – 2026 and will be financed by the Recovery and Resilience Mechanism of the European Union (EU).
The total amount that will be allocated for the financing of the Scheme during its implementation period amounts to €17 million, of which €10 million comes from the REPowerEU Fund, through the corresponding capital in RRP Cyprus.
The minimum amount of the proposed investment (eligible expenses) is set at €100.000. The maximum total amount that can be granted to a large enterprise is cumulatively €750.000 and in the case of group of companies, the grant will be offset so that the amount to which all the companies of the group will be entitled does not exceed the amount of €1.5 million.
The potential beneficiaries of the Scheme are new or existing Large Enterprises, which are established or will be established in Cyprus, excluding the areas in which the Government of the Republic of Cyprus does not exercise effective control due to the Turkish invasion.
Large enterprises in the manufacturing sector, including the processing and/or marketing of agricultural products, may implement expenditures in all categories of eligible expenditures, while large enterprises of the remaining activities may implement expenditures in the categories of eligible expenditures with A/A 4-9, as they are analyzed in Paragraph 10 of the Scheme Guide.
Manufacturing activities are defined as the activities included in Sector C (NACE Code: C – Manufacturing), in the Statistical Codes of Economic Activities, 2008 (based on the Classification System of Economic Activities NACE Rev. 2, of the EU).
Eligible business activities do not include the following:
The Scheme is adapted and will be implemented based on the following Regulations (EU): ● “REGULATION (EU) no. 651/2014 OF THE COMMISSION of 17 June 2014 on the declaration of certain categories of aid as compatible with the internal market pursuant to Articles 107 and 108 of the Treaty” 1, (hereinafter “Regulation (EU) 651/2014”) and all its amendments/corrections, including “REGULATION (EU) 2023/1315 OF THE COMMISSION of 23 June 2023 amending Regulation (EU) no. 651/2014 for the declaration of certain categories of aid as compatible with the internal market pursuant to Articles 107 and 108 of the Treaty. The period of application of the Regulation ends on December 31, 2026.
The eligible costs for which sponsorship will be granted to Large Enterprises, based on Regulation (EU) 651/2014, are covered by the following articles:
Financing percentage by EU or other bodies / Level of Subsidy or Loan
The maximum total amount that can be granted to a large enterprise is cumulatively €750.000. In the case of groups of companies, the grant will be offset so that the one to which all the companies in the group will be entitled does not exceed the amount of €1.5 million. Businesses in the manufacturing sector can choose to receive sponsorship under the terms of Commission Regulation (EU) 651/2014 and/or under the terms of Commission Regulation (EU) 2023/2831 concerning De minimis Aid (De Minimis).
Programme Category
Cyprus Recovery And Resilience PlanTotal Budget
€17 millionThematic Categories
- New Entrepreneurship
- Small-Medium Enterprises and Competitiveness
Eligibility for Participation
- Businesses
Call Opening Date
26/04/2024Call Closing Date
30/09/2024National Contact Point(s)
Industry & Technology Service
Persons to Contact:
Elena Rousou
Commerce and Industry Officer A’
Τelephone: 22867149
Email: erousou@meci.gov.cy
Fax: 22867253
Maria Ioannidou
Mechanical Engineer
Τelephone: 22409323
Email: mioannidou@meci.gov.cy
Fax: 22867253