The goal of providing cheaper electricity for consumers and ensuring the safe operation of the electricity system, as the foundations of the country’s green and competitive development, remains the common denominator of all efforts, Minister of Energy, Commerce and Industry, Michael Damianos noted on Thursday, adding that energy storage is a key pillar of the Government’s energy strategy.
In his address at the presentation of the Electricity Authority of Cyprus (EAC) 2025 annual achievements, held at the Authority’s headquarters in Nicosia, Damianos stated that “the EAC continues to be a strategic pillar of the state’s energy policy and a key partner in the transition towards a secure, competitive, and climate-neutral energy system.” He added that the EAC’s contribution is crucial both to achieving the country’s national energy objectives and to safeguarding energy security and the quality of services provided to citizens.
Referring to the challenges ahead, the Minister said these include upgrading the electricity grid and installing energy storage systems to increase the penetration of renewable energy and reduce renewable energy curtailments, implementing the EAC’s production development programme, with particular emphasis on upgrading the EAC power station at Dhekelia, expanding the Authority’s renewable energy portfolio, and ensuring the smooth operation of the competitive electricity market.
He noted that the EAC has embraced its modernization programme with commitment, saying that “we recognize and greatly appreciate this.” He added that upgrading and digitalizing the transmission and distribution networks, based on their ten-year development plans and supported by approximately pound 120 million in European funding, is helping to gradually remove the technical barriers to the further integration of distributed renewable energy generation while reducing the curtailment of green energy.
The Minister stated that by 2030, Cyprus will require at least 600 MW of energy storage capacity to reduce renewable energy curtailments to acceptable levels. He added that the Transmission System Operator is implementing a distributed energy storage system with a total capacity of 120 MW, which will operate with full transparency.