Energy in Cyprus Cyprus, to develop a photovoltaic park in the Cypriot capital of Nicosia. The United Nations Development Programme (UNDP) in Cyprus installed a 15 KW photovoltaic system at its offices. The park cost US$30,000 and is now connected to the grid as well. EuroAsia Interconnector will connect Israel , Cyprus and Greece with 2000 MW HVDC undersea power cable. It is a leading Project of Common Interest of the European Union and also priority Electricity Highway Interconnector Project. Cyprus, as last EU member fully isolated from energy interconnections will be connected to European network. Energy in Cyprus Energy in Cyprus describes
Economy of Cyprus Shiarly, stated that the European Central Bank, European commission and IMF officials are to carry out an in-depth investigation into Cyprus' economy and banking sector to assess the level of funding it requires. The Ministry of Finance rejected the possibility that Cyprus would be forced to undergo the sweeping austerity measures that have caused turbulence in Greece, but admitted that there would be "some negative repercussion". In November 2012 international lenders negotiating a bailout with the Cypriot government have agreed on a key capital ratio for banks and a system for the sector's supervision. Both commercial banks and cooperatives will