/28th August 2019, RENEWABLE MARKET WATCHTM/ RECOM, has secured, through tenders, 20MW of solar projects out of 35MW offered in Cyprus, which are planned to be installed during 2019, reported the Renewable Market Watch™. The first big project of 4.5MW in Pissouri is already under construction. Also, another two projects of 4MW have been agreed upon through the feed-in-tariff financing. For RECOM, the aforementioned projects' acquisition is a milestone in their Cyprus activities which contributes to the country’s smooth transition to solar energy.
RECOM is the largest solar manufacturing company in Europe with significant experience in planning, developing and supplying large scale projects as well. In the last few years, RECOM’s presence and activity in Cyprus have grown remarkably. In 2017, in cooperation with the CYPV Energy Limited investment group and with the financing of the European Bank for Reconstruction and Development (EBRD), 11.9 MW of solar projects have been realized in five different locations—Frenaros, Nisou, Dali, Palaiometocho, Malounta.
RECOM has offices in 8 different countries, owns and operates two manufacturing facilities in Europe (France and Italy) and currently has under construction several new facilities, the largest of which (750 MW) is in Armenia. RECOM’s worldwide production capacity will reach up to 1.7 GW in late 2019.
The energy policy of Cyprus is fully harmonized with the energy policy of the European Union, according to the Renewable Market Watch™ The main axis of the energy policy involves the safeguarding of healthy competition in the market, the security of the supply of energy and the fulfilment of the energy demands of the country, with the least possible burden on the national economy and the environment.
In Cyprus, electricity from renewable sources is promoted through subsidy combined with a net metering/net-billing scheme. Access of electricity from renewable energy sources to the grid shall be granted according to the principle of non-discrimination. Concerning the use of the grid, renewable energy shall be given priority. Grid development is a matter of central planning (Transmission Grid Development Plan 2017-2026 by the Cypriot TSO).
The more information and answers to your questions about the solar photovoltaic market in Cyprus you may read here: Central East and South-East Europe Renewable Energy Market Reports 2019÷2028
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