The Greek Orthodox Church in Cyprus has announced plans to invest $234m (£115m) in solar energy.
Archbishop Chrysostomos is looking for ways to finance his clergy
Archbishop Chrysostomos II said the church would build a factory that would make photo-voltaic panels to capture the sun's energy.
He said proceeds from the investment would be used to provide financial help to clergy and fund other social work.
The government has warned of power cuts in 2008 if the island does not secure additional electricity supplies.
The move follows criticism of the state-run Cyprus electricity authority's apparent failure to cope with increased demand during the recent heatwave which triggered power cuts on the island.
The Orthodox Church is among the island's biggest landowners with sizeable investments in banking, construction, hotels and wine-making.