Cyprus SMEs can secure financial aid up to €10,000 to boost energy efficiency through the EENergy project, aiming to support at least 1,800 companies by May 15, 2024. The initiative, a collaboration between the Cyprus Chamber of Commerce & Industry and the Ministry of Energy, is a crucial step towards sustainable business practices, offering grants for investing in new technologies, advisory services, and employee training.
What financial support is available for SMEs to improve energy efficiency in Cyprus?
Under the EENergy project, Cyprus SMEs can apply for grants of up to €10,000 to enhance energy efficiency. Eligible activities include investment in new technologies, advisory services, and employee training. Applications are open until May 15, 2024, with a goal to support at least 1,800 SMEs to achieve a minimum 5% energy efficiency improvement.
A Boost for Sustainable Business Practices
In an ambitious move to promote sustainable business operations, the Cyprus Chamber of Commerce & Industry (Keve) has joined forces with the Ministry of Energy, Commerce, and Industry. Together, they’re launching the EENergy project, which presents a substantial opportunity for Small and Medium-sized Enterprises (SMEs). With a commitment to enhancing energy efficiency, this initiative is not only a testament to the growing importance of sustainability in business but also a practical step towards eco-friendly transformations.
The proposal window is open until the 15th of May, 2024, and it sets its sights on supporting no less than 1,800 SMEs. It aims to do so by developing meticulous action plans, expertly crafted by Sustainability Advisors from the Enterprise Europe Network (EEN). The plans are meticulously designed with a noble goal in mind: to help SMEs achieve a minimum of 5% improvement in their energy efficiency. Out of the hopeful candidates, a fortunate 900 SMEs will be awarded direct financial support, receiving grants of up to €10,000 each.
Eligibility and Application
Determined to make a significant impact, the project is funded by the European Union’s Single Market Programme (SMP). It encompasses a range of eligible activities, including investment in cutting-edge software, advanced equipment, and other technologies that contribute to energy-saving measures. Moreover, advisory services to pinpoint and implement these improvements are covered, as are skills development and training for employees on energy efficiency topics. SMEs can combine these activities, aiming for a total budget that may exceed €10,000, albeit the grant itself will cap at this amount.
Applicants are encouraged to design their activities to achieve at least a 5% reduction in energy consumption. This reduction will be quantified in kilowatt-hours or equivalent units within the context of the implemented activities. SMEs interested in this significant opportunity should reach out to the Enterprise Europe Network Cyprus or email the designated address for further information and assistance with crafting a customized action plan.
Selection and Support
The path to securing this financial aid involves providing comprehensive details about the company, envisaged energy efficiency actions, and the associated budget within the action plan. After the submission deadline, all applications will undergo a thorough eligibility check, followed by a selection process conducted via lottery. As the contracts with the successful applicants are signed, the implementation phase of the action plans will commence.
In a display of unwavering support, Keve has stated that all SMEs applying, regardless of the funding outcome, will receive assistance from EEN sustainability advisors throughout their energy efficiency endeavors. Additionally, they will gain access to anonymous reports to compare their energy efficiency performance with other applicant companies, considering factors such as company size, sector, and location.
Adhering to Criteria
For an application to be considered, it must meet specific criteria. The applicant must represent an SME as defined in Commission Recommendation 2003/361/EC. The business should have been officially established before January 1, 2023, and must possess a VAT registration. It’s crucial that the business not be undergoing financial distress, bankruptcy, or any legal proceedings as described in Article 2, paragraph 18 of Commission Regulation 651/2014/EC. Those requiring additional information or clarification may contact the relevant authorities via the provided contact details.
How can Cyprus SMEs apply for financial aid to boost energy efficiency?
Cyprus SMEs can apply for financial aid up to €10,000 through the EENergy project by submitting a detailed action plan outlining their proposed energy efficiency improvements. The application deadline is May 15, 2024, and interested SMEs can reach out to the Enterprise Europe Network Cyprus for assistance.
What activities are eligible for funding under the EENergy project?
Eligible activities for funding under the EENergy project include investing in new technologies, advisory services, and employee training that contribute to energy efficiency improvements. SMEs are encouraged to design their activities to achieve at least a 5% reduction in energy consumption.
How many SMEs is the EENergy project aiming to support?
The EENergy project aims to support at least 1,800 SMEs in Cyprus by May 15, 2024, with a focus on helping them achieve a minimum 5% improvement in energy efficiency. Out of the total applicants, 900 SMEs will be awarded direct financial support with grants of up to €10,000 each.
What are the eligibility criteria for SMEs to apply for financial aid under the EENergy project?
To be eligible for financial aid under the EENergy project, SMEs must meet specific criteria, including being officially established before January 1, 2023, having a VAT registration, and not experiencing financial distress, bankruptcy, or legal proceedings. It is essential for SMEs to ensure they meet the defined criteria before applying for financial support.
