Cyprus has taken a major step forward in reaching its target of supplying 13% of its energy consumption using renewable sources in 2020 with the approval of the first wind farm on the Mediterranean island. Mr. Neoklis Sylikiotis, Minister of the Interior, has announced that the 82 MW wind farm will receive the backing of the European Investment Bank, which will provide €65 million towards the project.
The 82 MW Orites wind farm, which received the blessing of the Bishop of Paphos, consists of 41 Vestas 2 MW V90 wind turbines. It will reduce Cyprus’ carbon emissions by 100,000 tons per annum and is expected to contribute almost 3% of Cyprus's requirements toward EU regulations and targets. DK Wind Supply Ltd is behind the project, which is promoted by the European Renewable Energy Fund and in particular Platina Partners LLP.
Expected to be operational by the summer of 2010, the €200 million wind farm will be the largest of its kind in the Mediterranean region. "It is a very big project. Normally in Europe - especially in Greece and Spain - they consider 20 to 30 MW a huge project, so 82 MW is a massive project," Akis Ellinas, chairman of D.K. Wind Supply Ltd., told Reuters in an interview ahead of the ground breaking ceremony this month. The wind farm is the first to benefit from a new 20-year fixed rate tariff that was recently agreed by the government of Cyprus and the EU Commission.
EIB Vice-President Plutarchos Sakellaris, whose responsibilities include the EIB’s lending activities in Cyprus as well as energy issues, stated today: “I am delighted to participate in the ground breaking ceremony of this flagship project. Orites is the largest and most advanced wind farm in Cyprus. It paves the way for further developments in the sector, and brings the Cypriot Government closer to its target and the EU’s objective for renewable energy production. This is of particular importance for Cyprus, whose electricity network is not interconnected and has no other indigenous energy resources. We were therefore ready to participate in a finance structure taking direct project risk”.
A second phase to the 16 square-kilometre Orites wind farm, located on a mountain to the west of the island in the Paphos district, will take total installed capacity to an impressive 140 MW.
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