Aradippou Municipality has the vision to become a net zero energy Smart City. Its project “Aradippou Smart Industrial City” (ASIC) is expected to mobilize approximately EUR 43 million in energy efficiency (EE) and renewable energy (RES) actions in the municipality, supported by a smart grid to be developed by the Electricity Authority of Cyprus (EAC).
Within the ASIC project, the Municipality in cooperation with a local bank developed a soft loans financing scheme to encourage homeowners of 100 pilot residential buildings to invest in RES technologies. The scale-out phase will later cover some 1800 homes. The investment programme aims to supply Aradippou with clean energy from photovoltaics that will exceed 25% of the Municipality’s overall electricity consumption.
Within the INNOVATE project, Aradippou plans to develop and roll out an integrated EE service package including access to long-term financing that would support households’ holistic investments – not only in renewable energy but also energy efficiency measures. The project is expected to mobilise available funds and support from local partners such as the Cooperative Central Bank and the Larnaka Chamber of Commerce and Industry.
Key business partners
- Cooperative Central Bank;
- Larnaka Chamber of Commerce and Industry;
- Electricity Authority of Cyprus.
Dr. Panayiotis Michael
EU Affairs Office Aradippou Municipality
Aradippou Town Hall, 8
Stadiou str., 7103 Cyprus
Tel: +(357) 24 811050 / +(357) 99 964451