Nicosia: Energy Minister George Papanastasiou declared that energy security and competitiveness will be priorities for the Cyprus EU Presidency, which begins on January 1st: The announcement was made during his address at the annual General Assembly of the Famagusta Chamber of Commerce and Industry. Papanastasiou emphasized Cyprus’s commitment to ensuring a diversified, reliable, and sustainable energy supply, which is crucial for enhancing Europe’s resilience and its standing on the international stage.
According to Cyprus News Agency, Papanastasiou highlighted that the Cyprus Presidency aims to adopt a pragmatic approach that connects decarbonization with the competitiveness of European industries. This involves support for clean technologies, expedited licensing processes, and investment-friendly regulatory frameworks. The Energy Minister also underscored the government’s active support for the business sector, promoting policies and grant schemes aimed at innovation, energy and digital upgrades, as well as manufacturing and sustainable development.
He further revealed that the Ministry has secured a total of £363 million from EU funds for the period 2021-2027 to support these initiatives. Moreover, Papanastasiou mentioned that the green transition is a significant focus in the new Policy Document for the competitiveness of the Energy Ministry for 2025-2030. He also discussed measures implemented to reduce energy costs for businesses and to facilitate investments in renewable energy sources (RES).