CSE to partner with Hellenic Energy Exchange on renewable energy initiative
The Cyprus Stock Exchange (CSE) and the Hellenic Energy Exchange (HEnEx) will sign a Memorandum of Understanding (MOU) governing negotiations on the secondary market of Guarantee of Origin certificates from renewable energy sources, it emerged on Monday.
The signing ceremony is scheduled for Thursday, May 30, 2024, at the Presidential Palace.
According to a statement released on Monday by the CSE, as part of its ongoing efforts to expand markets, products, and services, and align with modern developments, it has been actively involved in the energy sector.
Since late 2019, the announcement continued, the CSE has successfully participated as a founding shareholder in the Hellenic Energy Exchange (HEnEx), through which it has gained significant technical expertise and experience in the sector, and leveraged business opportunities.
Before the signing of this MOU, 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.
Moreover, a regular meeting of the administrative board of the Hellenic Energy Exchange will be hosted at the CSE offices in Nicosia.
By implementing this initiative, the announcement explained, the CSE aims to facilitate the use of resources through the issuance of such certificates and their redirection towards renewable energy sources, which historically have been underutilised, as part of the green transition efforts and the reduction of climate change impacts.
The size of the Cypriot market was also considered, and this initiative was seen as suitable for managing, leveraging synergies, and achieving economies of scale.