Developments in energy storage projects in Cyprus

The Environmental Authority of Cyprus is reviewing a proposal for an innovative pilot energy storage project in Pentakomo, Limassol. This project is a collaboration between the Cyprus Institute and Altum Mare Ltd, with an estimated investment cost between 7 and 7.5 million euros. The experimental unit is designed to operate for a 24-month period following its launch. Simultaneously, Bioland Energy has announced a separate initiative to transition 24 of its existing photovoltaic parks across Cyprus into hybrid systems by installing batteries. This private investment by Bioland Energy exceeds 20 million euros and aims to reach a total installed capacity of over 100 MWh. The primary objective of these battery systems is to reduce energy curtailment and improve the utilization of renewable energy sources. Both initiatives aim to enhance grid stability and provide more competitive electricity pricing. Minister of Energy, Commerce, and Industry Michalis Damianou has recently inspected the research facilities at the Cyprus Institute's Proteas site to oversee these technological advancements.