Cyprus Accelerates Battery Storage Expansion

Cyprus is accelerating the rollout of electricity storage as the Transmission System Operator (TSO) advances new infrastructure alongside private-sector projects aimed at strengthening grid stability and supporting the island’s energy transition.

Storage Capacity Expands

According to the Cyprus News Agency, the TSO has issued preliminary connection terms for stand-alone battery storage projects with a combined capacity of more than 200 MW and around 500 MWh of storage.

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Connection terms have also been granted for hybrid solar-and-battery projects totalling 29 MW and approximately 100 MWh of storage capacity.

As an isolated electricity system, Cyprus increasingly relies on storage to balance supply and demand, particularly as renewable generation expands. Battery systems can absorb excess solar power during peak production and feed it back into the grid when demand rises.

Public Storage Projects Advance

Separately, the TSO has awarded a tender for the supply and installation of three grid-scale battery storage systems with a combined capacity of 120 MW and 400 MWh, following regulatory approval for privately owned storage facilities connected to the transmission network.

The systems are expected to help stabilize the grid, reduce renewable energy curtailment and improve the reliability of electricity supply.

Next Steps

The operating framework for the facilities is still being finalised, with privately owned storage projects expected to receive priority in market participation.

Once Cyprus completes its electricity interconnection with other European Union member states, ownership of the TSO’s storage assets is expected to be transferred through an open tender process, paving the way for broader market participation.

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Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

by News Editor

August 17, 2026

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

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IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.

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