Cyprus Energy Regulatory Authority (CERA) announced the approval earlier this week (18 June) of three projects which will be owned and operated by the Cyprus
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Following this, Energy Minister George Papanastasiou announced that Cyprus secured a €40 million grant from EU''s Just Transition Fund for the financing of centralized energy storage systems on the island.
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Cyprus''s electricity regulator has approved plans to install 400MWh of battery energy storage system (BESS) projects in the Mediterranean island country.
Cyprus's electricity regulator has approved plans to install 400MWh of battery energy storage system (BESS) projects in the Mediterranean island country. Cyprus Energy Regulatory Authority (CERA) announced the approval earlier this week (18 June) of three projects which will be owned and operated by the Cyprus Transmission System Operator (TSOC).
Image: Cyprus government / MECI. Cyprus's electricity regulator has approved plans to install 400MWh of battery energy storage system (BESS) projects in the Mediterranean island country.
The country is also seeking to develop pumped hydro energy storage (PHES) capacity with technical assistance from the European Commission (EC) and is formulating a National Hydrogen Strategy. Cyprus's electricity regulator has approved plans to install 400MWh of battery energy storage system (BESS) projects.
In a keynote address to open a conference on energy storage and hydrogen in March, George Papanastasiou of the Ministry of Energy, Commerce and Industry (MECI) noted that Cyprus faces a “unique set of energy challenges, which require tailored solutions.”
CERA's senior managers agreed the approval based on the immediate public interest need for energy storage to be installed on the electricity system to ensure its reliable and safe operation, while preventing curtailment of renewable energy production.
All systems must be fully installed and connected to the grid by June 2026. Although TSOC retains ownership and operational control, CERA has stipulated that private storage operators will receive priority for grid services, preserving space in the market for commercial energy storage initiatives.
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