Breaking news

Akel Party Unveils Bill To Shield Arable Land From Solar Park Expansion

The Akel Party has introduced a legislative bill aimed at restricting the issuance of permits for commercial solar parks. The initiative is designed to preserve Cyprus’s valuable arable land and conservation areas from the rapid proliferation of these renewable energy facilities.

Defined Restrictions On Permit Issuance

The proposed legislation outlines five specific scenarios in which permits for commercial solar parks would be barred. These include land of high natural value, arable or permanently irrigated land, territories under government-supported irrigation projects, zones designated for environmental protection, and areas falling under Natura 2000 designations.

Balancing Renewable Energy With Agricultural Interests

Notably, the bill exempts farmers from these restrictions when installing photovoltaic systems for their own use, a provision that recognizes the importance of agriculture alongside renewable energy expansion. This nuanced approach aims to balance energy innovation with the safeguarding of traditional farming practices.

Industry Impact And Parliamentary Debate

Mainstream debate in parliament has been ongoing for years, spurred by concerns from agricultural sectors in the Famagusta and Paphos districts. Local farmers have repeatedly highlighted that the unchecked growth of solar parks has eroded agricultural operations and diminished available pasture lands, raising alarms about broader community development ramifications.

Statistical Evidence And Future Implications

In his address, Akel MP Yiannakis Gavriel cited critical figures to amplify the urgency of the issue. He noted that solar parks already generating a cumulative 58 megawatts (MW) operate in the Famagusta region, with permits for an additional 408MW having been approved. Gavriel warned that, given the approximately 900MW of installed renewable energy capacity across Cyprus, the full implementation of these projects could have dire consequences for agriculture and local communities alike.

Looking Ahead

As the bill moves forward, authorities are faced with roughly 100 pending applications for commercial solar parks. The outcome of this legislative effort will likely set a precedent for how Cyprus balances the twin imperatives of renewable energy growth and the preservation of its agricultural heritage.

Eurobank Plans €1 Billion Investment In AI And Digital Banking By 2028

Eurobank plans to invest about €1 billion in technology from 2025 through 2028, its largest technology investment program to date. The Banking Forward strategy focuses on digital banking, artificial intelligence, customer experience and a “phygital” model combining digital services with face-to-face support.

Digital Banking Dominates Customer Activity

Digital channels already account for 96% of Eurobank transactions, with 61% completed through the Eurobank Mobile App. Among customers aged 35 and under, digital adoption reaches 94%.

Customers make about 574 million annual logins across e/m-banking and more than 1 million digital transactions each day. During the first half of 2026, one in three banking products was acquired digitally.

AI Moves Into Everyday Banking

Eurobank is expanding the use of AI through tools including EVA, its digital customer assistant, and myEVA, an AI-powered voice assistant for employees. The technology is also being applied to mortgage assessments, customer feedback analysis and contractual documents.

The bank’s technology architecture is built around five areas: digital channels, customer experience orchestration, data and AI, core banking, and infrastructure and cloud. About 50% of its applications and digital channels are already cloud-based.

Investment Extends Beyond Technology

The program is intended to reshape how Eurobank operates, combining automation and AI with employee development and human support. The bank says the approach is designed to improve services while maintaining access to face-to-face banking when customers need it.

eCredo
The Future Forbes Realty Global Properties
Aretilaw firm
Uol

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter