Signed in as:
filler@godaddy.com
At GreenFin Solar, we offer a unique range of Solar Energy production and Energy Storage investments. Our team of experts specialize in production, transportation, storage and much more. With years of experience in the industry, we understand the unique challenges of project development, and we are committed to providing value-added investment solutions to meet industry and stakeholder needs.
Stephen Richards
Vermont/New England project, USA (50MW)
Two-phase development involving solar production, battery storage and hydrogen production.
Cyprus is a European Union (EU) member state since 2004. Cyprus is an island country currently depending on imported oil to meet most of its growing energy needs. At the same time, cost reductions on renewable energy technologies, coupled with an abundant renewable energy potential, provide the chance to reduce dependency on fossil fuels while complying with EU renewable energy targets and fulfilling the country’s targets for 2030.
To address these challenges, the Cyprus Government has co-operated with the International Renewable Energy Agency (IRENA) to develop a roadmap for renewable energy deployment. This clearly shows renewable energy can form a major part of the country’s future power generation mix. Solar photovoltaic (PV) power should reach a capacity of more than 1,000 MW by 2030. The deployment of renewable energies will greatly reduce energy import dependencies while lowering the cost of electricity generation in Cyprus.
Cyprus uses fossil fuels/mazut to generate most of its electricity. This results in EU-imposed penalties for carbon (GHG) credit compensation. Carbon credit rates are expected to rise in the future. Cyprus is blessed with a near-optimal demand-supply balance in day/night and winter/summer profiles. The grid system load for Cyprus shows a strong peak in summer because of the required electricity for air conditioning in houses and hotels during the tourist season. This also creates a peak demand during the hottest daytime hours. This pattern matches the pattern of PV-generated electricity during the daytime and the summer seasons.
In Cyprus, Greenfin Energies is currently developing ground-mounted and rooftop PV (PhotoVoltaic) projects, with integrated storage solutions and smart grid technologies. The team have a historical track record of over 8000 MW of completed international renewable energy projects (solar, wind, biomass, hydrogen).
With the strong support of the Government and Ministers, Greenfin Energies development efforts have quickly resulted in a pipeline of over 20 plots with a total capacity of more than 300 MW. Most parks will be created on government-owned land, not too far from the grid.
Individual projects are owned in-country by dedicated SPVs (Special Purpose Vehicles), registered in
the jurisdiction of operation.
GreenFin Energies LLC
Powered by GreenFin Energies