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Two new Sponsorship Plans of the Ministry of Energy, Trade and Industry, totaling € 49 million, for the Energy Upgrading of Small and Medium Enterprises (SMEs), Non-Profit Organizations (NGOs), Local Government Authorities and Public Broadcasting Council of the Ministers. 

Z&X Mechanical is proudly involved in the program, as part of our services.

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The proposals for the Plans, which are included in the Recovery and Sustainability Plan 2021-2026 “Cyprus _ tomorrow” and will be financed by the EU Recovery and Sustainability Mechanism, were submitted by the competent Minister of Energy, Ms. Natasa Pileidou.

Specifically, based on the Decisions of the Council of Ministers, € 40 million will be allocated for the Plan “Promotion of Energy Efficiency Investments by SMEs and Non-Profit Organizations (NGOs)”, which aims to promote energy saving investments (facilities and facilities), owned and / or used by SMEs (€ 36 million) and NGOs (€ 4 million). It will cover, among others, the energy upgrade of buildings, the application of EXE measures in the production / operation processes of SMEs, the implementation of energy audits, the adoption of digital technologies (eg automation and energy consumption control systems), as well as the installation Renewable Energy Systems (RES) systems.

The main goal of the Plan is to achieve a reduction of primary energy consumption by at least 35% in buildings or 30% in production processes.

The sponsorship rate will be 40% of the eligible costs for SMEs and 60% for NGOs, while the maximum amount of sponsorship that each beneficiary will be able to receive is determined based on the percentage of savings that will be achieved and the type investment to choose. In the smaller category of investments, for beneficiaries who will achieve the minimum possible percentage of energy savings, there is a possibility of securing a sponsorship of up to € 100,000, while for beneficiaries who will choose to achieve the largest category (upgrading Buildings to Buildings with Almost Zero Energy Consumption), the maximum sponsorship amount can be up to € 300,000.

The submission of applications will start on a date to be determined by a new announcement of the Ministry and will remain in force until 30/9/2022 or until the exhaustion or commitment of the available budget. The Plan has no retroactive effect and does not cover any expenses that will be implemented before the date of submission of each application.

The second Grant Scheme approved today by the Council of Ministers, has a total budget of € 9 million and concerns the “Encouragement of Energy Upgrading by Local Authorities and Broader Public Sector Bodies”. Provides financial incentives, in the form of sponsorship, for the conversion of public buildings into Buildings with Almost Zero Energy Consumption, as well as for the implementation of RES and / or EXE investments in other infrastructures of Local Authorities and Legal Entities under Public Law.

The basic requirement of the Plan, which will subsidize 100% of the eligible costs, with a maximum sponsorship amount of € 700,000 and a minimum proposal amount of € 10,000 (all amounts are without VAT), is to achieve a reduction of primary energy consumption by at least 30% , on average, of all supported investments.

The available appropriations for the operation of the Plan, which as mentioned above are financed by the EU Recovery and Sustainability Mechanism under the axis “Rapid Transition to a Green Economy”, are included in the Medium-Term Financial Framework of the RES and EXE Fund.

Again, the submission of applications will start on a date that will be determined later with a relevant announcement and will remain in force until 31/12/2023 or until the exhaustion or commitment of the available budget. The Plan has no retroactive effect and does not cover any expenses that will be implemented before the date of submission of each application.

The Implementation Guides of the Plans, with all the details, will be published on the website of the Ministry of Energy, Trade and Industry https://meci.gov.cy/gr/ .

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