Brussels:The European Commission has announced nearly £3.8 billion in funding for 212 projects focused on net-zero technologies, environmental protection, and climate action, including three projects involving Cyprus. One of these projects is centered on electricity storage using batteries and vehicle-to-grid technology, while the other two aim to protect endangered birds of prey and preserve biodiversity.
According to Cyprus News Agency, under the EU Innovation Fund, 77 net-zero technology projects have been selected to receive a total of £3.4 billion. Additionally, £390 million will be allocated to 135 environmental and climate action projects under the LIFE programme.
The Cypriot project, EuniFlex VPP, developed by EUNICE Wind Park Holdings (Int) LTD, is among the Innovation Fund selections. This initiative aims to create a flexible virtual power platform, showcasing the first commercial deployment in Cyprus of ultra-fast bidirectional DC chargers with battery energy storage systems in an isolated island electricity grid. The vehicle-to-grid (V2G) technology involved allows electric vehicles to both draw electricity from the grid and feed it back, enhancing energy efficiency and reducing renewable electricity curtailment.
The other two projects involving Cyprus are part of the LIFE programme. Raptors for LIFE focuses on protecting three significant birds of prey on the island the Egyptian vulture, Bonelli's eagle, and long-legged buzzard. The project includes measures such as combating illegal bird poisoning, upgrading dangerous power lines, safeguarding water reservoirs to prevent bird drownings, and boosting populations through captive breeding and reintroduction programmes. Additionally, awareness campaigns targeting rural communities are planned.
LIFE BioCommunities, a collaboration between six partners from Cyprus and Greece, seeks to engage citizens and businesses in biodiversity conservation, especially in Natura 2000 areas. It also aims to establish a national labelling initiative for biodiversity-friendly products and businesses, linked to a digital marketplace, to promote environmentally responsible economic activity.
Across Europe, it is estimated that the 77 Innovation Fund projects could prevent around 290 million tonnes of carbon dioxide equivalent emissions in their first decade of operation. These projects span areas including renewable energy, electricity storage, clean industry, alternative fuels, critical raw materials recycling, and carbon management.
The more than £390 million allocated to the 135 LIFE projects covers over half of their total investment needs, which are estimated at £579 million. These projects address nature and biodiversity protection, the circular economy, quality of life, climate change adaptation and mitigation, and the energy transition.
The European Commission stated that these investments aim to accelerate Europe's green transition, bolster its industrial competitiveness and energy independence, and protect nature while enhancing resilience to climate change.