Cyprus CSP project of 50 MW nabs EUR 60.2m in EU funds

Jul 9, 2014 - The Eos concentrated solar power (CSP) project in Cyprus with a planned capacity of 50 MW yesterday received a EUR-60.2-million (USD 82m) grant under the European Commission’s (EC’s) NER 300 programme.

Developer Alfa Mediterranean Enterprises is to install around 300 solar thermal receivers and hundreds of sun-tracking mirrors north of Limassol in Cyprus. The technology for the project, developed by Australian company Solastor, involves the use of a multi-concentrated solar tower and superheated steam cycle. It also features graphite thermal storage.

Once operational, the 50-MW CSP park is planned to generate 172 GWh annually. The project is worth some EUR 175 million.

The EC yesterday unveiled total of EUR 1 billion in financing awards for 19 green energy, smart grid and carbon capture and storage (CCS) projects under round two of NER 300. The list includes one more project in Cyprus -- the Green+ smart grids initiative will receive EUR 11.1 million in EC financing. The project envisages the transition from a traditional grid to a micro-grid concept and will be implemented in a rural mountain region of Cyprus.

(EUR 1 = USD 1.362)

Choose your newsletter by Renewables Now. Join for free!