With the aim of promoting energy-saving investments in buildings and facilities owned or used by small and medium-sized enterprises (SMEs) and non-profit organizations, the Ministry of Energy, Commerce, and Industry announced the 2nd Call of the Grant Scheme "Save – Upgrade for Small and Medium-sized Enterprises and Non-Profit Organizations (2024)," with a total budget of €24,000,000.

It is noted that the proposal submission period will begin on a date to be announced in a new notice by the Ministry of Energy, Commerce, and Industry. Eligible expenses cannot be incurred before the application submission.

Applications and the required supporting documents must be submitted exclusively through the Grant Scheme electronic system of the Industry and Technology Service, available at https://fundingapps.meci.gov.cy, using browsers such as Chrome, Firefox, and Edge. Priority will be determined based on the order of submission, with immediate evaluation. The dedicated support hotline for the Scheme is 17107.

The goal of the Scheme is to encourage energy-saving investments in buildings and facilities owned or used by SMEs and non-profit organizations, achieving energy savings of at least 35%.

Specifically, the Scheme covers investments such as improving the energy efficiency of building envelopes, installing new technical systems in buildings, installing high-efficiency combined heat and power systems, installing renewable energy systems (including energy storage batteries), and improving energy efficiency related to production or operational processes, such as replacing energy-intensive equipment and installing energy-saving systems. It also includes replacing lighting systems in sports stadiums, theaters, and dance halls, as well as upgrading existing production machinery.

New or existing SMEs from all economic sectors and non-profit organizations that do not engage in economic activity are eligible to apply. Businesses included in the exclusion list of the Scheme (an appendix to the Guide) are not eligible.

The grant intensity is set at 40% of eligible expenses for each application. Beneficiaries under the Non-Profit Organizations category, as well as SMEs undertaking investments in mountainous and disadvantaged areas, may receive an increased grant rate of 60% of eligible expenses.

The maximum grant amount available under the 2nd Call of the Scheme is €300,000, depending on the type of investment chosen by each applicant.

To secure funding, consulting services from a Qualified Expert or Energy Auditor are required to confirm that the investments meet the Scheme's minimum technical criteria.

Interested parties can find detailed information about the Grant Scheme and submit their applications through the website of the Industry and Technology Service, where the detailed Implementation Guide of the Scheme has been published. The Guide includes all details, such as eligibility criteria and the grant amounts corresponding to each expense and investment type.

According to the announcement, the Scheme is funded by the European Union's Recovery and Resilience Facility, the central instrument of NextGenerationEU, the temporary financing mechanism for the EU’s recovery from the pandemic-induced crisis.