The scheme has a competitive character, offering EUR 35 million ($36 million) for the purchase and installation of energy storage units alongside existing PV, wind and biomass power plants.
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In May 2025, Cyprus successfully commissioned its first significant battery energy storage system (BESS), marking a major step toward enhancing the country's energy infrastructure and aligning with its national goals for renewable energy integration and grid optimization.
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Current pricing runs €800-1,000 per kWh installed – a 10kWh system totals €8,000-10,000 before grants. Which simply means payback in 3-5 years at current electricity.
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The project's main advantage is its integrated 100 MW electricity storage system with a 200 MWh storage capacity. This system is intended to solve one of Cyprus's most pressing problems: the instability of energy supply from renewable sources.
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