Are you the owner or tenant of an apartment in a multi-storey building, the owner or tenant of an office in office block or a light industrial unit?

Interested in pre-ordering a second-life Battery Energy Storage System to increase your return from your PV installation?
We can now offer you space in our photovoltaic (PV) parks to install and maintain your PV system so you benefit from the use of solar energy and generate your own electricity!
With us you can:
Reduce your electricity bill
Receive subsidy up to 1000 Euro from the state for the installation of PV system
Contribute to the green transition of our country
Generate energy for your electric vehicle at a price that is in your interest
Who we are:
At GrowthPoint we are a team of experts in the sector of Renewable Energy Sources (RES) and specifically in power electronics, Battery Energy Storage Systems (BESS), the Virtual Net Metering (VNM) and the Virtual Net Billing (VNB) schemes in Cyprus.

The Electricity Authority of Cyprus is currently implementing the VNM and VNB schemes, and under the VNM system large number of consumers (especially those who live in apartment buildings) can now benefit from the use of photovoltaic systems. The PV system can now be installed elsewhere (not only on the roof of own building), and now the owner of the PV system can be credited for the electricity generated exactly as if the system is deployed on the roof of their own house.

The islanded electric grid of Cyprus has seen increasing penetration of RES over the last decade, which has led to lower system security. The existing PV parks are experiencing growing curtailment and a loss of green energy. Stationary BESS provide an energy buffer, shift peak generation and support the grid, however, with high financial and environmental costs.

The team at GrowthPoint brings together academic and industrial partners in Cyprus to develop the technology and expertise needed for stationary BESS solutions that will be low cost and environmentally friendly. It will achieve this by using low-cost second-life EV battery modules, developing robust hardware solutions to integrate non-homogeneous battery cells seamlessly, employing smart control algorithms to extend the life of battery cells, and AI-driven solutions to ensure the system's fault-tolerance and robustness.

Project team leaders
Kirill Popov
  • 25 years of professional experience in the energy and chemical industries
    Past experience
  • Head of the division for outlook, analysis and development, marketing and trading at one of the world's largest oil & gas companies
  • Invested in multiple startups conducting R&D in chemistry and biotech
  • Vice-president of the Russian Chemist Union and member of the petrochemical department at the Russian Chamber of Commerce and Industry
  • MSc in Applied Physics and Natural Sciences (RUDN University, Russia)

Dr. Mikhail Novikov
  • 15 years of professional experience in power electronics and business development
    Past experience
  • Founder, CTO, and CEO of Elmank, a company developing and implementing power electronics, battery management systems, and control systems
  • Published author of research articles, owns patents
  • PhD in Power Electronics (Moscow Power Engineering Institute, Russia)
Dmitri Ramzaitsev
  • 14 years of professional experience in business development, corporate finance, and asset management
    Past experience
  • Head of a Family Office overseeing several projects in a diversified range of industries
  • Finance director and Head of business development of a project developing the largest manganese mine in Russia with investments of over $350M
  • Investment banking at Morgan Stanley (London)
  • BA in Mathematics, MSc in Financial Economics (University of Oxford, UK)
What we can offer you:
Offer you a suitable place for installing a photovoltaic system
Co-finance the investment, if deemed necessary
Provide you maintenance and management of the system
Carry out the procedures for obtaining the necessary licensing of the system
Ensure the purchase of the best components for the system. If you so wish, you can even choose the suppliers yourself
Help you to re-register the PV system to another address in case you change your apartment
Return to you the complete system for installation in another place more convenient for you
We offer special conditions for groups of tenants and/or for apartment building owners
Contact us:
+357 25 281891
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