Nicosia mayor proposes 22 million euro investment for renewable energy project

During a conference on combating energy poverty held on November 10, 2026, the Mayor of Nicosia, Charalambos Prountzos, proposed a major investment project to tackle energy costs. The initiative involves the construction of an 8 MW photovoltaic park equipped with energy storage capabilities, with an estimated total cost of approximately 22 million euros.

The project is being promoted by an energy community that includes the Municipality of Nicosia, the Municipality of Lakatamia, and the Nicosia School Board. Mayor Prountzos stated that the European Investment Bank has already provided preliminary positive feedback regarding the funding of 50 percent of the total investment. To cover the remaining costs, the Mayor suggested utilizing the Social Climate Fund, citing the non-profit nature of energy communities and the potential to provide direct support to vulnerable households.

The discussion took place during a roundtable event featuring the Mayor of Athens, Haris Doukas, the General Director of the Ministry of Energy, Commerce and Industry, Kyriakos Iordanou, and Assistant Professor at the National Technical University of Athens, Evangelos Marinakis. The proposal aims to shift energy policy from sporadic individual subsidies toward comprehensive, integrated structural solutions.