The Cyprus Stock Exchange (CSE) and the Hellenic Energy Exchange (HEnEx) are poised to sign a Memorandum of Understanding (MOU) governing negotiations on the secondary market of Guarantee of Origin certificates from renewable energy sources. The signing ceremony is scheduled for Thursday, May 30, 2024, at the Presidential Palace.
According to a statement released by the CSE, this initiative is part of its ongoing efforts to expand markets, products, and services while aligning with modern developments. Since late 2019, the CSE has been actively involved in the energy sector as a founding shareholder in HEnEx. This partnership has allowed the CSE to gain significant technical expertise and experience, leveraging business opportunities within the renewable energy sector.
Strengthening Partnerships and Expertise
Before the MOU signing, a meet-and-greet session and an exchange of views between the HEnEx board, Undersecretary to the President Irene Piki, and the director of the President’s office of the Republic of Cyprus Charalambos Charalambous will take place at the Presidential Palace. Additionally, a regular meeting of the administrative board of HEnEx will be hosted at the CSE offices in Nicosia.
The CSE aims to facilitate the use of resources through the issuance of Guarantee of Origin certificates and their redirection towards renewable energy sources. Historically underutilized, these sources are crucial for green transition efforts and reducing climate change impacts. The initiative also considers the size of the Cypriot market, seeing it as suitable for managing and leveraging synergies to achieve economies of scale.
By implementing this initiative, the CSE seeks to bolster its role in the renewable energy sector, ensuring that resources are efficiently utilized and directed towards sustainable energy solutions. This move aligns with broader green transition efforts, aiming to create a more sustainable and environmentally friendly energy landscape in Cyprus and beyond.
