25.2 C
Nicosia
Saturday, June 29, 2024
type here...
News

Min. Energy: Tesla and Samsung have shown interest in batteries in Cyprus

0
14

Must read

Υπ. ΕνΕργειασ : Tesla επδιεδαφομ ;παταρεστην Κyπρο /></p> <p> Big global names such as Tesla and Samsung have shown interest in participating in the creation of a battery-powered electricity storage system for which official tenders are expected to be announced for 150 Mega Watts in the first phase in September, said the Minister of Energy, Trade and Industry Giorgos Papanastasiou from the podium of the International Business Forum, in Limassol.</p> <p>Mr. Papanastasiou presented before the Forum the Government's strategy for reducing the price of electricity, which he described as "the only source for improving the competitiveness of the country's economy".</p> <p>In his presentation, Mr. Papanastasiou referred to the three pillars for achieving the strategy to make Cyprus an energy center. The first pillar is about creating "as soon as possible" of the liquefied natural gas import terminal for power generation purposes, which, he said, will immediately reduce pollutants by 35%-40% and by’ expanding the cost of electricity. He also emphasized that 3 million tons of carbon dioxide are produced every year which, as he said, corresponds to €300 million in emission rights, a cost that is passed on to the consumer of electricity.</p> <p>According to Mr. Papanastasiou, the second pillar concerns the further utilization of renewable energy sources and mainly photovoltaics. He emphasized, however, that while a total of 750 Mega Watts are produced by photovoltaics, however, only 19% enters the system with the largest percentage of this production being rejected.</p> <p>"This is unimaginable" he said, adding that the Ministry is already oriented towards the creation of a storage system with batteries with the involvement of the private sector and a total sponsorship of € 40 million. In particular, as he added, the process is in the consultation phase and a tender is expected to be announced in the first phase for &laquo ?quite important» storage capacity of 150 MW around September.</p> <p> "We already have interest from big names, such as Tesla, Samsung and some others as 150 MW is quite a large amount and concerns the first phase", stressed Minister of Energy.</p> <p>At the same time, the third pillar concerns the electrical interconnection of Cyprus – of Greece, said Mr. Papanastasiou, to emphasize that in cases of electrical interconnections, usually the flow of electricity goes from the cheapest to the most expensive destination. Answering a question, Mr. Papanastasiou said that the Government is waiting for the comprehensive cost-benefit study from the implementing body of the monumental project, in order to examine it with the help of a "reputable" house. so as to make the investment decision to enter the capital of the project with €100 million</p> <p> He reiterated that this project is European and will be done after having received funding of €657 million which, as he said, is the largest given by the European Commission in the framework of the “Connecting Europe” facility.</p> <p> Besides, Mr. Papanastasiou said that the target for the opening of the competitive electricity market is July 2025, while he emphasized that the goals include the creation of a smart electricity network that will facilitate the further penetration and utilization of RES.</p> <p> Source: KYPE</p> <p><noindex></p> <div class=Source: www.sigmalive.com

Previous article
Ministerial intervention for the Lebay Hotel
Next article
An ERT journalist was arrested for beating his partner, also a journalist
- Advertisement -AliExpress WW

More articles

- Advertisement -AliExpress WW

Latest article

© 2024 Cyprus Digest. All rights reserved.

Popular in Cyprus

About Us

Popular Category

Editor Picks

MORE STORIES

The first reactions after the debate in the USA – “Disaster”...