Minister of Commerce, Industry and Trade Antonis Paschalides referred to the existing framework of cooperation between Romania and Cyprus in the field of Renewable Energy Sources, saying that it will help both countries to achieve their RES targets.

The Ministers address was read by Constantinos Xichilos, officer at the Ministrys Energy Service, during a seminar organized in Nicosia by the Electricity Authority of Cyprus, under the title Romania Cyprus cooperation in investments in Renewable Energy.

According to the Minister, Cyprus has to reach the obligatory target of 13% by 2020, while Romanias target is set at 24%, following the binding objectives for each member state by the EU with regards to the contribution of Renewable Energy Sources in the final energy consumption.

He added that the Memorandum of Understanding that was signed between Romania and Cyprus during the visit of the Romanian Minister of Economy, Commerce and Business Environment, has established a framework for cooperation between the two countries in the field of Renewable Energy Sources that will help both countries to achieve their targets.

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