Applications for a grant scheme to support energy upgrades and enhance the competitiveness of large businesses will open on April 26. The maximum grant for a single large business is €750,000.

According to an announcement from the Ministry of Energy, Commerce, and Industry, this scheme is part of the Cyprus Recovery and Resilience Plan for 2021-2026, funded by the European Union's Recovery and Resilience Mechanism. The total funding available for the scheme is €17 million, with €10 million coming from the new EU REPowerEU Plan, which is part of the Cyprus Recovery and Resilience Plan. These funds apply only to eligible expenditure categories that align with REPowerEU objectives.

Applications will be accepted from 9:00 a.m. on April 26, 2024, until 11:59 p.m. on June 28, 2024, and must be submitted through the Ministry's electronic Grant Scheme System using Chrome, Firefox, or Edge browsers. Applications will be evaluated on a first-come, first-served basis, with the total approvals not exceeding the scheme's budget.

The scheme aims to support large businesses by providing grants for eligible expenses related to energy-efficient buildings, facilities, or equipment, and transitioning businesses to a circular economy model. The maximum grant for a single large business is €750,000.

Eligible beneficiaries include new or existing large businesses based in Cyprus, excluding areas not under the effective control of the Republic of Cyprus. Ineligible activities include those related to fisheries and aquaculture, and the production of wine and vinegar, as defined in Part II of Annex VII of Regulation (EU) 1308/2013.

Moreover, grants cannot be awarded to "problematic businesses" as defined in Regulation (EU) No 651/2014, Article 1(4)(c) and Article 2(18).

Interested applicants can find the final guide for the scheme and other required forms on the Industrial and Technology Services website. For further information, they can contact the relevant officers at 22867149 or 22409323.