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New sponsorship plan worth 17 million euros for the energy upgrade of large companies

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Learn how you can benefit from the plan

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The proposal submission period will begin on April 26, 2024 at 9:00 a.m.

The recovery and resilience plan continues to be implemented throughout the EU. The Ministry of Energy, Trade and Industry (MIEEB) announced today a call for applications under the “Grant Scheme for Energy Upgrade and Strengthening the Competitiveness of Large Enterprises”. The total amount that will be allocated for the needs of the Plan, which is implemented within the framework of Measures C3.1I7 and C6.1I5 of the SAA, amounts to €17 million, of which €10 million comes from the new REPowerEU Plan of the EU, through the corresponding capital in SAA Cyprus and, therefore, only concern categories of eligible costs that serve the objectives of REPowerEU.

The Plan aims to support, develop and upgrade Large Enterprises, including their energy upgrade. The financial support consists of providing sponsorship for specified eligible costs related, among other things, to the promotion of energy-saving investments in buildings, facilities or even equipment, as well as the transition of business operations to a circular model. The maximum total amount of sponsorship that can be granted to a Large Business is €750,000.

Who is eligible to receive sponsorship

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.

The proposal submission period will begin on April 26, 2024 at 9:00 a.m. and applications will only be accepted through the YEEB's online Grant Scheme System, on the website https://fundingapps.meci.gov.cy, using Chrome, Firefox and Edge browsers, until June 28, 2024 at 11:59 p.m. m. The order of priority will be determined based on the order in which proposals are submitted (immediate evaluation) and the maximum amount of approvals will not exceed the available budget of the Plan.

Eligible business activities do not include activities related to the fishing and aquaculture sectors, as well as the production of wine and wine vinegar included in Part II of Annex VII of Regulation (EU) 1308/2013.

It is emphasized that aid cannot be granted to “problem enterprises”, as defined in Article 1, point 4, point c (1.4.c) and Article 2, point 18 (2.18) of Regulation (EU) No. 651/2014.

Those interested can obtain the final Plan Guide, in which all the details are mentioned, as well as other required forms or documents, from the website of the Industry and Technology Service (https://www.industry.gov.cy/gr/).

For more information, those interested can contact the relevant Officers at 22867149 and 22409323.

Source: www.kathimerini.com.cy

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