Loss of electricity produced by photovoltaic systems will be significantly reduced in the near future, paving the way for much more effective utilisation of renewable energy sources, as a contract will be signed next week to build the first central electricity storage systems, with a capacity of 120 MW.
Energy minister Michalis Damianos said that the signing of the relevant agreements on June 23rd marks a decisive step in reducing photovoltaic production cuts and raising renewable energy contribution in electricity.
According to the timeframe provided by the minister, the electricity storage batteries will be delivered in January 2027 and installed over three months, so they can become operational by next summer.
‘Lost energy will now be utilised’, Damianos added, noting that the increase of storage power will mainly contribute towards limiting the cuts affecting household photovoltaic producers, with additional energy now rejected due to limited network capacity.
The Cyprus Electricity Authority is also moving with its own storage systems projects to the tune of 50 million euro.
According to the latest data, electricity lost from photovoltaic systems ranged last year from 50-100 MW during winter to 300-400 MW through spring and summer.
Last month, electricity lost ranged from 80 to 300 MW.
CNA