Title: Scheme for Promoting Saving and Upgrading in Business

Program Description

The Scheme aims to deep energy renovation of existing buildings of Small Medium Enterprises (SMEs).

This purpose would be achieved by providing non- repayable financial aid during the first Call for Proposals. The type of incentive may be revised to the remaining Calls.

The Scheme includes the following two (2 ) types of investments:
A. Deep Energy Renovation of Buildings for achieving at least B class of energy efficiency in the Energy Performance Certificate ( EPC ) or energy saving at least 40 % relative to the total building energy consumption before upgrading .

B. Deep Energy Renovation of Buildings for Upgrading to nearly zero energy buildings, as defined in the relevant Decree issued by the Minister for Energy , Trade , Industry and Tourism under the arrangements of the Energy Performance of Buildings Laws of 2006-2012 .

Grants that will be granted to beneficiaries who will join the Scheme are:
- 50 % of the total approved budget of the proposal for the first type of investment (the percentage is increased to 75%, for applications submitted by vulnerable consumers) and
- 75 % of the total approved budget of the proposal for the second and third type of investment.
The maximum grant amount could reach €200.000 per SME.

Type of Category

  • Energy
  • Entrepreneurship

Eligible Applicants

Small – Medium Enterprises (Legal Entities or Physical/Natural persons who exercise economic activity.

Eligible Expenditures

Eligible costs cover a wide range of energy saving measures in buildings , among which are insulate of buildings shell, replacement of heating / air conditioning systems, installation of renewable energy systems for heating / cooling , installation of electricity saving systems etc .
    Type of Funding

    Co-Financed by the Republic of Cyprus and the European Regional and Development Fund

    Total Budget: €15,3 mil.

    Call Budget: €8,7 mil.

    Managing Authority

    Industry and Technology Service MECIT

    Contact Point

    Andreas Lizides - Industrial Extension Officer
    Tel: +357 22867148
    Email: alizides@mcit.gov.cy

    Daminos Louca - Commerce and Industry Inspector
    Tel: +357 22867180
    Email: dlouca@mcit.gov.cy

    Georgios Hadjigeorgiou - Commerce and Industry Inspector
    Tel: +357 22867202
    Email: ghadjigeorgiou@mcit.gov.cy

    Please note that the Guide of the Scheme and all related documents are available in Greek only.