A pioneering investment in Limassol has attracted the interest of an Austrian businessman who is internationally involved in green energy ventures. This investment of hundreds of thousands of euros has resulted in the installation of a 1500 square meter photovoltaic system of in the city.
The result is a large, industrial unit of renewable energy for Paradisiotis Ltd, which guarantees annual energy savings of approximately 480000 kWh, while the benefits for the company on the long run will be more than 10% in comparison to conventional power supplies. The use of this particular system also results in a significant reduction of carbon dioxide emissions, at approximately 364 tons per year.
What is so groundbreaking about this latest legislation is the fact that individuals or companies in Cyprus can benefit from renewable energy source systems, through third-party funding. This has been put into practice in Limassol for the first time, with the signing of a contract between the company Energy & Beyond, and the food manufacturing company, Paradisiotis Ltd.
