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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Bitcoin Surges 23% In A Week As Investor Optimism Returns

by News Editor

August 21, 2026

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

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Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.

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