Factsheet: Promotion of renewable electricity

Promotion of renewable electricity

Key Information
Full name of Instrument & Measure (English): 
Grant Scheme for the promotion of electricity generation using wind, solar thermal, photovoltaic systems and the utilization of biomass
Description: 
GRANT SCHEME FOR THE PROMOTION OF ELECTRICITY GENERATION USING WIND, SOLAR THERMAL, PHOTOVOLTAIC SYSTEMS AND THE UTILIZATION OF BIOMASS Law 33(i) 2004, last amendment 2012 The minimum selling price of electrical energy that will be produced by utilizing biomass-landfill and fed to the transmission / distribution grid is 117.9 -97.4 Eur/MWh for the first 20 years. The grant, paid from the Special Fund for RES will result from the difference between the total selling price and the purchase price of electricity from renewable sources, by the electricity distributor as it is periodically determined by CERA. Note that if the purchase price kWh from the supplier surpass total selling price, then the supplier will pay the excess amount to the Special Fund for RES and RUE.
Goal/Aim: 
Support electricity from renewable sources.

Sector/Topic targeted:

Responsible Authority: 
Cyprus Energy Regulatory Authority (CERA)

Status:

Year Instrument & Measure Started: 
2004
Year Last Instrument & Measure was last Amended: 
2012