Cyprus: €10 million for construction of five photovoltaic plants

The European Bank for Reconstruction and Development (EBRD) is providing €10 million in debt financing for the construction, development and operation of five solar photovoltaic parks with total capacity of 11.9 MWp in Cyprus.

Addressing global challenges is one of the key strategic priorities for the EBRD and the investment will strengthen efforts in Cyprus to reduce climate change emissions and dependency on important fuels.

The parks are located in the areas of Frenaros, Nisou, Dhali, Paliometocho and Malounta and are among the first solar photovoltaic projects of this scale to be implemented in Cyprus. The projects are being run by a consortia of local and international investors and will benefit from the EBRD’s debt financing.


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