Cyprus’ modified green transition plan, including a REPowerEU chapter, has been approved by the European Commission. With a budget of €1.22 billion, the plan aims for energy independence by 2030 and focuses on diversifying energy sources, promoting renewable energy, electric vehicles, and consumer involvement in the power market.
The European Commission has approved Cyprus’ updated recovery and resilience plan, which includes a dedicated REPowerEU chapter and €1.22 billion in funding. The plan focuses on achieving energy independence and driving the green and digital transition, with 45% of the funds allocated to climate action and 24.6% to digital initiatives.
The European Commission is expressing ongoing dissatisfaction with Cyprus’s slow revocation process of “golden” passports, which were granted inappropriately and illegally under the Investment Programme. Cyprus is facing 70 noncompliance cases against EU directives and regulations, putting it at risk of hefty fines. The Commission has been issuing warning letters about the scandal since 2015, and has now escalated the matter by sending a reasoned opinion, the final step before referring a country to the European Court. Cyprus is also facing challenges in environmental matters, labor issues, and refugeemigration management.