Cyprus is amongst the worst performing states in the European Union as regards charging stations per 100km of road. Construction of ECV charging stations has been dominated by the Electricity Authority of Cyprus (EAC) but also private ventures initiatives (PVI) have played a role as well. 

As of December of 2020 a total of 30 charging stations were constructed. As of 2023 the quantity has increased to 43 with two more expected to go online by end of the 3rd Quarter. Of these:

EAC constructed 20 stations.
PVI constructed 13 stations.

This metric is a common sense tool in the arsenal of EU bureaucrats to help compare how far along each EU member is on a path to disentangle from fossil fuel dependence. 

The common sense deployed is:

• IF distance to charge = large; 

• THEN demand for new ECV's = low.

EnergyPoint has a primary objective to attempt to transform Cyprus into one of the top performing states in the European Union as regards number of charging stations per 100km of road. It shall attempt to meet this objective by locating the adequate number of charging station sites to meet future demand where it resides.

At present EnergyPoint has identified over 70 potential investment targets in the Republic of Cyprus on which EnergyPoint proposes construction of 70 ECV charging stations.

Cyprus is the worst performing state in the European Union as regards the number of charging points that are available to the ECV driving public. 

As of December of 2020 a total of 38 charging points were installed. As of 2023 the quantity has increased to 69, with an average of two charging points per charging station. Of these:

EAC installed 40 charging points.
PVI installed 29 charging points. 

This metric is another common sense tool in the arsenal of EU bureaucrats to help them to compare how far along each EU member state is on their own path to disentangle themselves from dependence on fossil fuels for private transport on surface roads. 

The common sense deployed here is:

• IF charging points = few; 

• THEN demand for EV's = low.

EnergyPoint has a secondary objective to attempt to transform Cyprus into one of the top performing states in the European Union as regards number of charging points available to the driving public on a per capita basis.

EnergyPoint's 7-year business plan has identified an opportunity to install 1000 charging points at its planned 70 charging stations island-wide in order to meet demand increases caused by the runup to the 2035 ban on manufacture of new combustion engines within the EU and a potential decrease in cost of electricity from renewable sources.

EnergyPoint's has identified vendors who able to deploy charging points at a total cost outlay (TCO) of €100,000 per charging point which includes all of the costs associated with acquiring permits, buying & packing, shipping & handling, clearing customs, assembling & installing and connecting to grid.

EnergyPoint intends to franchise its business model in order to reach its 1000 charging point objective.

Cyprus is the worst performing state in the EU as regards per capita sales velocity and market share of electric charged vehicles (ECVs), which as of December 2020 stood at:

EU market share = 8.20% for ECVs.
CY market share = 0.47% for ECVs.

But as of December 2022 stood at:

EU market share = 12.1% for ECVs.
CY market share = 0.80% for ECVs.

Cost to recharge ECVs at home explains the above phenomenon. In specific:

EU = €0.20/kWh recharge at home.
CY = €0.35/kWh recharge at home.

Dependence on fossil fuels to produce electricity for recharging explains the above phenomenon. In specific:

EU < 35% dependence.
CY > 85% dependence. 

It is common sense therefore, that if cost to recharge ECVs is near/exceeds cost to refuel traditional combustion engine vehicles (CEVs), then the demand for ECVs will remain low and so will sales velocity and market share.

EnergyPoint has a tertiary objective to attempt to transform Cyprus into one of the top performing states in the European Union as regards cost associated with charging ECVs outside the home. To accomplish this a new business plan that is beyond the scope of the current 7-Year plan is needed. 

It is expected that new financial incentives will be announced by both the EU and the government of Cyprus, and it is the intention of EnergyPoint to be ready when that time comes, to exploit these financial incentives toward the furtherance of the above tertiary objective through mergers and acquisitions in the renewable energy sector of Cyprus, in which EnergyPoint has identified a 100MWh gap in the current production capacity of the electricity grid that under the right preconditions, this gap, tied together with the above mentioned new financial incentives are a new and exploitable opportunity for EnergyPoint and its shareholders.