Cyprus has, in the last two years, one of the largest increases in the share of Renewable Energy Sources (RES), among the EU member states, Energy Minister George Papanastasiou said on Thursday, speaking during the 14th Assembly of the International Renewable Energy Agency (IRENA) in Abu Dhabi.

In the framework of the summit between 16-18 April, the Minister participated in the High-Level Plenary Session of IRENA and in his intervention he said that Cyprus, which currently holds the Presidency of the EU MED9 group, will host on September 30, 2024 the next Ministerial Meeting for energy issues, a Ministry press release said.

In collaboration with the European Commission, IRENA and the involved states, the aim will be to explore the possibilities for the Mediterranean region to emerge as a hub for the transfer of green energy between EU member states and third countries, an announcement from the Ministry said.

Papanastasiou also participated in two Ministerial Round Table Discussions on geopolitics and energy security and transition, in the presence of EU Energy Commissioner. He highlighted the important geographical role Cyprus could play in the region as a hub for energy transmission through electrical interconnections and other energy infrastructure.

He also emphasised the importance of interconnections and how they can increase the diffusion of RES, reduce electricity costs and strengthen the security of energy supply.

The Cypriot Energy Minister also referred to the technical difficulties presented in the effort to develop large electrical interconnection projects, such as the Great Sea Interconnector.

Papanastasiou visited the World Future Energy Summit exhibition and held a series of meetings, including with senior officials of Abu Dhabi National Oil Company and with Israel's Minister of Energy.