Starting today, Thursday, the submission of applications for the “Save – Upgrade to Homes” grant project, as part of its 2nd announcement, according to the Ministry of Energy, Trade and Industry.
In in its announcement, the Ministry states that on Tuesday the Council of Ministers also approved the plan “Save – Upgrade the Homes located in areas of the British Bases”.
Specifically, according to the Ministry, during the session of the Council of Ministers on Tuesday, it was decided to include displaced people who live permanently in housing located in refugee settlements, among the beneficiaries of increased sponsorship of the “Save – Upgrade to Homes” Grant Scheme, for which applications begin today, Thursday, May 4, 2023.
The project, which has a total budget of €70 million, is included in the “Th.Al.E.I.A” Program 2021-2027 and is co-financed by the European Regional Development Fund (ERDF) of the EU and the Republic of Cyprus. During the 1st announcement of the Plan implemented in 2021, €35 million was allocated, while the remaining €35 million will be allocated in the context of the 2nd announcement announced in November 2022.
The main purpose of the plan is the energy upgrade of existing homes, so that they achieve energy savings of at least 60%. The total annual savings, which will be achieved from all the investments that will be subsidized, are estimated to be in the order of 192,000 Mwh.
The beneficiaries of the plan are all natural persons who are owners or tenants of the houses. In addition to IDPs residing permanently in houses located in refugee settlements, the scheme provides increased incentives to vulnerable consumers, as well as owners/tenants of houses located in mountainous areas.
The maximum amount of sponsorship for each residence can reach up to €32,000, depending on the type of investment chosen by each beneficiary.
In addition, during the session of the Council of Ministers, the Plan “Save – Upgrade the Homes located in areas of the British Bases”, with a total budget of €500,000, which is financed entirely by the Republic of Cyprus and is implemented under the same conditions as the co-financed Project.
The submission of applications for the two projects begins on Thursday, it takes place through the website https://fundingapps.mcit.gov.cy/. The Ministry will accept applications until 21/12/2023 at 23.59 or until the available budget is exhausted.