What to Invest in in Cyprus

[PeteandSylv]

Originally Posted by Vegaanders

Hi!
I have never figured out if the 100 k reimbursement is per account or per person. Anyone knows?

Anders

I believe it is per account. The mechanics of per person across multiple accounts in multiple banks is horrifying.

Pete

[Vegaanders]

[quote=costasp;872737]money sitting around aint no good for anyone . my suggestions :

1. put them into a coop bank . you get 4.5 % annually (quarterly accumulations) for 50,000+ euro
2. buy and rent property , prices aint going more down than this !
3. start a photovoltaic park . Sponsored by Cy goverment applications up to end of september . I am starting a 100KW park that will give me 2800-3000 euro per month with a 20 year contract from EAC.


Just a question about photovoltaic. When I talked to the EAC 1 month ago they stated that they have 150 applications and only money for 50. I also raised the question about only selling power to them without getting a Grant and they told that this is not possible

Anders

[costasp]

i am not sure about the number of the applications, but is true that they have a lot. however have in mind that not all applications will be approved . also in addition a lot of people are going for the 150 kw option which takes more time to be approved while the 100 kw option does not need long environmental study and it can be approved relatively quickly . about selling directly is not an option - i am not sure , but i was reading on the news for a 25 mw with photothermaic park with stirling engines selling at .13 per KW . this power station i think is outside the grant search on google : infinia-to-supply-25-5-megawatt-solar-thermal-project-in-cyprus and click on the bloomberg link for more details

[Vegaanders]

Originally Posted by costasp

i am not sure about the number of the applications, but is true that they have a lot. however have in mind that not all applications will be approved . also in addition a lot of people are going for the 150 kw option which takes more time to be approved while the 100 kw option does not need long environmental study and it can be approved relatively quickly . about selling directly is not an option - i am not sure , but i was reading on the news for a 25 mw with photothermaic park with stirling engines selling at .13 per KW . this power station i think is outside the grant search on google : infinia-to-supply-25-5-megawatt-solar-thermal-project-in-cyprus and click on the bloomberg link for more details

I know the guys with the sterling. But they were special because they got 30 million from EU. I am sure this will not be possible for smaller plants. And for 13 cent per kW there is no money in it. Not until the price for hardware goes down

Have you got your approval, or you still wait?

I have a ready businessplan for a 100 kW plant using spanish 2-way trackers but after talking to EAC we put it on Ice

Anders

[costasp]

i am still waiting to get approved but ive heard that my application has been making progress so i am positive about it . anyway if it doesn't work out , in my original post i have a link to sean's website. pay him a visit.

[costasp]

sorry i think it is more than 13 cents for the 25mw station , i think is double that

[Vegaanders]

Originally Posted by PeteandSylv

I believe it is per account. The mechanics of per person across multiple accounts in multiple banks is horrifying.

Pete

As you see in my other answer it is per person per bank. You cant have 5 accounts in one bank and get 500 000 euro.

From Bank of Cyprus Homepage

The maximum level of compensation, per depositor, per bank, is €100.000. This limit applies to the aggregate deposits held with a particular bank. When calculating the amount of compensation payable to a depositor, any loans or other credit facilities granted by the depositor’s bank are set-off against the deposits. Any counterclaims that the bank concerned may have against the depositor in respect of which a right of set-off exists, can also be set-off.

Anders

[PeteandSylv]

Originally Posted by Vegaanders

As you see in my other answer it is per person per bank. You cant have 5 accounts in one bank and get 500 000 euro.

From Bank of Cyprus Homepage

The maximum level of compensation, per depositor, per bank, is €100.000. This limit applies to the aggregate deposits held with a particular bank. When calculating the amount of compensation payable to a depositor, any loans or other credit facilities granted by the depositor’s bank are set-off against the deposits. Any counterclaims that the bank concerned may have against the depositor in respect of which a right of set-off exists, can also be set-off.

Anders

OK, thanks.

Pete

[Vegaanders]

Originally Posted by costasp

sorry i think it is more than 13 cents for the 25mw station , i think is double that

if you know what you pay for the power you can realize that they cant pay much more because EAC must make a profit. If you get the application approved you will get 28 cent. But this contains very high degree of state money.

[Vegaanders]

Hehe, I looked at the seminar you linked to. As millions of other pages this is a page where the only one who earns money is the guy who sells the package. Selling for 997 usd will generate 5000 usd per month quickly knowing that many people goes for this.
I really consider it as a scam

I am sure that if I created a site that said "buy my book and you can make gold from lead" and sell it for 500 usd I would also make good money for a while, because thats how people are, we want to believe.

Its like the scam with so called Nigeria letters. They have been around for years and I get offers in my mail at least once per week. Everyone say that they are scam's but still many make a lot of money on them.

But that is my opinion