Cyprus promotes green energy and economic growth with new strategic plan

The Ministry of Energy, Commerce and Industry (MECI) of Cyprus has released its Strategic Plan for 2024-2026, outlining a roadmap to accelerate the nation’s transition to a green economy and bolster its competitiveness on the global stage.

Building on the foundation laid out in the previous plan (2021-2023), the new strategy prioritizes the continued development of renewable energy sources and energy efficiency measures. This aligns with the European Union’s Green Deal goals of achieving climate neutrality by 2050.

The MECI emphasizes its commitment to fostering a robust entrepreneurial ecosystem and promoting Cypriot exports. The plan highlights initiatives to improve the business environment, attract foreign investment, and empower domestic industries.

The announcement comes amidst a global push for sustainable development and a growing focus on energy security. Cyprus, with its abundant sunshine and wind resources, is well-positioned to capitalize on these trends.

This strategic plan is expected to serve as a blueprint for the MECI’s actions over the next three years, guiding its policies and programs in the critical areas of energy, trade, and industry.