MONDAY, 6 DEC 2021



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Green Energy Group Inaugurated Six Photovoltaic Parks With A Total Capacity Of 16.82MWp

Green Energy Group Inaugurated Six Photovoltaic Parks With A Total Capacity Of 16.82MWp

Six Green Energy Group photovoltaic parks were inaugurated by the Minister of Energy, Commerce and Industry Natasa Pilides in Agios Ioannis, Malounta, an area considered to be the “green energy centre’’ of Cyprus.

The inauguration event, organized by the Green Energy Group, which manages a total energy production portfolio of 42.69MW and has a leading role in the sector, was attended by personalities from the business and political world. Among those present were the president of OEB, Antonis Antoniou, the former Minister of Energy, Trade and Industry, Yiorgos Lakkotrypis and Evi Rossidou Antoniadou, Head of Corporate, SME and Shipping Division at AstroBank, while the Most Reverend Metropolitan of Tamassos and Orinis, Isaias, performed the sanctification.

During her speech, the Minister of Energy underlined the importance of investments that promote sustainable/viable development, noting that our country managed in 2020, according to preliminary data, to have a total penetration of Renewable Energy Sources in the gross energy consumption, which amounted to 17.08%. According to Pilides, "our gradual transition to a green, energy profile and the circular economy offers new job positions, opportunities for sustainable living to our fellow citizens and prospects for economic growth and extroversion for our businesses"

The CEO of the Green Energy Group, George Georgiou, stated that "With the operation of these photovoltaic systems, we achieve the production and distribution of 34,122MWh of energy to the EAC network. At the same time, their activation results in a significant reduction in Carbon Dioxide (CO2) emissions. It is estimated that through the photovoltaic systems, 24,363 tons of CO2 will be saved per year of operation, which is equivalent to 566,065 trees per year ".

He continued by stating that "2022 is a milestone year for our Group.  The liberalization of the electricity market is, for us, an important step for the realization of our vision and strategy. The production of energy through our photovoltaic parks will establish us in the competitive electricity market, allowing our Group to have a prominent position in the energy balance. From the beginning of the year, we will be offering companies packages of services and products of pure, cheap and green electricity from the subsidiary of the Group. Energy and Beyond!

On her part, Evi Rossidou Antoniadou, speaking on behalf of AstroBank, which financed the project, referred to the Bank's strategy for enhancing sustainability and viability in every field of economic activity. In her speech, she noted that "Regarding the financing of projects and companies for green investments, such as the Green Energy Group, AstroBank has the necessary staffing and expertise to support them with fast procedures, favourable terms and providing assurance that it will remain their partner for each of their next steps ".

During the event, the CEO of the Group announced the beginning of projects for the construction of the “Environmental Centre of Information and Awareness”, where students and young people will be able to get closer to nature, get to know the importance of sustainable development, get informed about the positive contribution of the renewable energy sources to humanity and the environment while with the use of binoculars they will have the chance to observe the birds that live in the area.

Following the completion of the inauguration ceremony, a symbolic tree planting of fruit trees took place with the Minister and the CEO of the Group and other officials, all together contributing in the development of the flora of the area.


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