Cyprus’ first wind park at Orithes in the Paphos district was inaugurated on Sunday by President Demetris Christofias,
The €170 million project aims to provide eight per cent of the island’s electricity generation and has been operational since last year.
Despite heavy rain on Sunday about 500 invited guests attended the event at Orites. They included the Bishop of Paphos Giorgos, Matthew Kidd, the British High Commissioner to Cyprus, and Paphos Mayor Savvas Vergas.
The project has been a labour of love for Cypriot businessman Akis Ellinas. The 49-year-old graduate of the London School of Economics and former 400-metres hurdler said: “This project was something I passionately believed in as I worry about CO2 emissions.”
The €170 million wind farm was completed on time and on budget. The 82MW project is the island’s first in the field of wind-energy development.
The project was made possible by Private Equity Fund Manager Platina Partners LLP –Platina- who joined forces with the wind farm developer.
Ellinas estimates that the 82MW project will see wind capacity eventually power 50,000 households as well as saving 100,000 tons of carbon emissions and produce 120,000 kilowatt-hours of energy annually.
The Orites farm consists of 41 towering white Vestas V90 2MW turbines, spread over the 16km site. The first private sector power project on the island has been funded through debt financing from Commerzbank, ING and NordLB, with the European Investment Bank providing 50 per cent of the debt funding.
In his address at the launch, Christofias said: ”The project we are inaugurating today will substantively contribute to efforts to utilise wind energy in Cyprus and meet the aims the EU has set, so that, by 2020, 13 per cent of the country’s energy consumption will come from renewable energy sources.”
Thomas Rottner, Managing Partner of Platina said: “Orites is a prime example that with the right incentives and framework in place, it is still possible to develop large infrastructure projects in even the most challenging financial times.”
Elinas registered his intention to build a wind park in Orites in December 2004.He was granted the construction licence by CERA Cyprus Energy Regularity Authority in 2006 and in 2009 he received the licence.
Work is now underway on a number of other wind farms in Cyprus, including the 42MW Klavida Village, 31.5MW Alexigros and 20MW Ayia Anna sites.
