According to the “Cyprus Post” report on March 28, the Cyprus government received 50 million euros in financing from NER300 for a pilot project to install 3,000 smart meters in Cyprus. Minister Nicos Kouialis of the Ministry of Agriculture of Cyprus stated that the Cabinet of Ministers of the Government of Cyprus will next approve the implementation of the project as soon as possible, which is of great significance to the energy conservation of Cyprus. NER300 is a low-carbon and renewable demonstration project investment plan initiated by the European Commission in 2010. It is dedicated to the development of carbon capture and storage (CCS) and renewable energy technologies and is the largest of its kind in the world.