REPowerEU

Theodoros Tsakiris, a Professor of Geopolitics and Energy Policy at the University of Nicosia, joins Thanos Davelis to look into the important REPowerEU workshop on energy that took place this week in Athens, and explore the various projects that have put Greece at the heart of a new energy map that's transforming the region. 

The Recovery and Resilience Plan is the "most ambitious program the European Union has ever conceived of planning and implementing," Environment and Energy Minister Thodoros Skylakakis said on Thursday, expressing satisfaction with the progress in its implementation and the loans envisioned under RepowerEU.

The Cypriot cabinet has approved the proposal by the minister of energy, commerce and industry, George Papanastasiou, regarding the grants initiative aimed at enhancing upgrades and strengthening the competitive edge of major enterprises.

The European Commission on Thursday announced that 158.7 million euros have been disbursed to Greece in the form of pre-financing linked to the REPowerEU funds under the Recovery and Resilience Facility (RRF).

The pre-financing payment follows the approval of Greece's revised recovery and resilience plan, which includes a REPowerEU chapter and the signature of economic agreements.

Cyprus has submitted a revised Recovery and Resilience Plan to the European Commission, incorporating the REPowerEU chapter with an additional allocation of 104 million euros. The Ministry of Finance announced the update, highlighting the revised timeline of milestones aimed at addressing delays in the plan's implementation.

The government will submit its revised plan for funding from the European Union's Recovery Fund on Thursday.

The revised plan would ditch some approved projects budgeted at €800 million deemed unnecessary or difficult to implement and replace them with others. The government aims to absorb all available EU funds by August 2026.