The Cabinet on Friday greenlit an innovative “Grant Scheme for Energy Upgrading and Enhancing the Competitiveness of Large Enterprises.”
This strategic initiative is part of the broader Cyprus Recovery and Resilience Plan, earmarked for the 2021-2026 period, and enjoys financial backing from the European Union’s Recovery and Resilience Facility.
A generous funding pool of €17 million is earmarked for this scheme, with a significant €10 million contribution stemming from the EU’s “REPowerEU” initiative, underscoring a focused commitment towards sustainable and competitive industrial growth.
The scheme’s primary objective is to foster the development and energy-efficient transformation of large-scale enterprises, offering substantial financial incentives for eligible investments aimed at energy conservation in infrastructure and equipment, alongside promoting a shift towards circular business models.
With a cap of €750,000 in grants per qualifying enterprise, the scheme opens up new horizons for both emerging and established large-scale businesses within Cyprus.
Applications are set to be invited within a specified timeframe, further details of which will be disclosed in the forthcoming call for proposals.
Prospective applicants can access comprehensive guidelines through the Industrial & Technology Service’s official website, with dedicated support available via designated contact numbers 22867149, 22867236, and 22867216 for any queries.