CIU Foresee Saving 30.4 Million TL in Electricity Consumption
Assist.Prof.Dr.Mehmet Şenol, a Coordinator of the Rector and a lecturer of the Department of Electrical and Electronics Engineering, Faculty of Engineering, Cyprus International University (CIU) stated that the university will save 30.4 million TL of electricity energy consumption over the next 20 years due to the energy produced by the Solar Energy Plant at CIU.
Assist. Prof. Dr. Mehmet Şenol said that following a one-year project process carried out by the Centre for Sustainable Energy Research in February 2016, the CIU Solar Energy Plant started to produce energy. He further stated that the total capacity of the plant is 1300 kWp, pointing out that the system is different from the other current applications. He said "The installation, which is the biggest photovoltaic plant in North Cyprus at the time of its establishment, still has the feature of being the biggest power plant on a university campus."
Şenol explained that the plant was started with an investment of €1,500,000 in 2016 and approximately 40% of the annual 4,000,000 kWh electricity consumed at CIU is now obtained from the sun.
Şenol noted that at the beginning of the investment period the repayment duration was 6.5 years, however, now the period of repayment of the power plant has fallen to 4.5 years after the changes in legislation and electricity tariffs. Şenol said that the CIU solar power plant is expected to produce about 38 million kWh of electricity in the 20-yearf netting period.
Assist. Prof. Dr. Şenol said that considering today's KIB-TEK tariffs, the university will save 30.4 million TL from the consumption of electricity over 20 years and the future gains from the university's solar energy power plant will increase relatively in the future considering possible new increases.
Assist. Prof. Dr. Şenol said that the university's solar power plant is being visited by both domestic and foreign people and institutions as an example of potential investment.