An important step in liberalising the electricity market

The Cabinet approved a plan to support renewable energy sources (RES), In-Cyprus reports. The plan involves supporting the introduction of 212 Mega Watt of renewable energy source-produced electricity into the competitive market.

Currently 10% of energy supplies come from RES in Cyprus while the government has set a target of 13% by 2020.

Energy Minister of Cyprus, Giorgos Lakkotrypis, noted that the government is attempting to create a framework in order to introduce RES as quickly as possible while pointing out to the success of the photo-voltaic program which has attracted over 10,000 households over the last four years.

''We hope to improve our energy storage technology which will subsequently reduce costs'' said Mr. Lakkotrypis.