Opens in a new tab

Breaking news

Cyprus Must Build Energy Storage Now, Says Cyprus Institute President

Cyprus cannot rely on diesel or natural gas as a long-term solution to its energy needs, according to Cyprus Institute president Stavros Malas, who argued that the country must pair renewable generation with durable energy storage if it is serious about lowering costs and strengthening energy security.

A Testbed For Cyprus’ Energy Future

Malas made the remarks on Friday during a visit by Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou to the Cyprus Institute’s PROTEAS research facility in Pentakomo. He described PROTEAS as “a miniature version of Cyprus as it should be,” pointing to its role as a real-world platform for testing technologies in renewable energy production and storage.

For an island economy with no interconnection to larger power systems, the challenge is not only how electricity is generated but also how it is stored and delivered when the sun is not shining. Malas said the transition must begin now “if we do not want to remain a country producing very expensive electricity.”

“Neither the fuel we have now, diesel, nor natural gas are long-term solutions,” he said.

Why Storage Matters As Much As Generation

The message reflects a broader reality facing energy markets worldwide: renewable generation alone is not enough. Without storage, solar and wind power can struggle to provide a stable, around-the-clock supply. For Cyprus, that issue is magnified by geography, limited grid flexibility and the costs of imported fuels.

Malas’ argument is that the country should treat storage as a core part of energy strategy, not an afterthought. In practical terms, that means investing in technologies that can capture excess power during periods of high production and release it when demand rises.

A Living Example Of Innovation

Damianou described PROTEAS as “a living example of what Cyprus wants to become,” framing the facility as a place where advanced technologies can be tested and translated into broader commercial and industrial use.

He said the site shows that Cyprus can evolve beyond the role of a passive energy consumer and instead become a destination for innovative firms developing solutions for a changing energy landscape.

“The reason I am here is to see and examine, as a government, these innovative solutions being implemented at PROTEAS,” Damianou said.

Research With Commercial And Climate Relevance

During the visit, the deputy minister toured the facility and received a briefing on its work, including research tied to climate change mitigation. He was accompanied by the deputy ministry’s director of research and innovation, Constantinos Kleovoulou.

PROTEAS is the Cyprus Institute’s experimental platform for the research and demonstration of renewable energy technologies, with a particular focus on concentrated solar thermal energy and energy storage. The Pentakomo site allows researchers to test solar technologies under Cyprus’ specific climatic conditions, with applications that could extend to other regions with similarly high solar potential.

The institute says its solar thermal research has also attracted interest from private companies, some of which have installed heliostats at the facility to support research and innovation efforts. That commercial interest suggests a wider opportunity for Cyprus: to turn its natural advantages into a platform for clean-tech development, investment and exportable expertise.

AI In Practice Brings Business Leaders Together To Learn, Unlearn And Relearn

AI in Practice: Changing the Future of Business takes place on Monday, 19 October 2026, at the Cultural Center of European University Cyprus in Nicosia, under the auspices of the Chief Scientist of Cyprus, Demetris Skourides.

Organised by Panis.News with co-organisers GrantXpert Consulting and Future Skills Hub at European University Cyprus, the event will bring together founders, SME owners and senior executives to examine practical uses of artificial intelligence.

The evening runs from 18:00 to 22:30. Tickets will be available until 12:00 noon on Monday, 19 October, Cyprus time.

For business leaders, the challenge is deciding where AI can deliver results. The programme will explore how to identify useful applications, prepare teams and connect technology investment with business needs. Demonstrations, case studies and direct questions to speakers will help attendees assess their next steps.

Panis Pieri, Founder of Panis.News, said:

“Business leaders need space to ask questions, challenge assumptions and learn from people applying AI. We created AI in Practice to make that conversation accessible and useful. We want attendees to leave with a clearer idea of what they can do next in their own businesses.”

Dr Celia Hadjichristodoulou, Founder and Managing Director of GrantXpert Consulting and Future Skills Hub, said:

“Working out where AI belongs in your business takes real thought about your customers, your processes and your people.”

AIA.Labs supports the event as the Gold Partner. Its founder, Sotiris Makrygiannis, said:

“In the 70s we learnt how to punch a card to go to work or program a timesharing computing machine, in the 80s the personal PC and office tools, in the 90s the modem and basic internet, in the 2000s mobile internet plus web shopping, and by 2010 the mobile apps. Now it’s time to learn how to practically use AI and that alone is the most disruptive thing an individual can do today. We are happy to sponsor the event because theory needs a practical application.”

The Agenda

– 18:00–18:30: Registration and networking.

– 18:30–18:50: Welcome remarks from Panis Pieri, Dr Celia Hadjichristodoulou and EUC Rector Professor Loizos Symeou.

– 18:50–19:00: Interview with Chief Scientist Demetris Skourides.

– 19:00–19:20: The AI Revolution. Why should you care? by Monica Odysseos, Head of AI and Data Lab of Grant Thornton.

– 19:20–19:40: From Business Pain Points to AI Transformation: A CEO’s Roadmap to Real Results by George Malekkos, CEO of POWERSOFT Computer Solutions & AI-Driven Business Transformation Architect & President of CITEA.

– 19:40–20:20: AI and the Future of Business: Will Your Business Be Here in 2030? by Paris Thomas, Executive Advisor on AI & Strategy, Founder at Rapid Visual / Strapivo

– 20:20–21:00: Questions and answers with the speakers.

– 21:00–22:30: Networking over drinks and bites.

The Challenge

The evening’s programme approaches the challenge from three directions.

Monica Odysseos will begin with a question that deserves a clear answer: why should you care?

Her session will explore how AI is changing the way people work, make decisions and create. Her background spans software development, accounting and applied AI, bringing both technical and business perspectives to the discussion.

George Malekkos will then examine how business problems can become starting points for AI adoption.

Where does your company lose time? Which processes cause delays? Where could you improve the customer experience?

His presentation will look at selecting useful applications, preparing teams and processes, and measuring results. For a business owner deciding where to begin, that connection between a specific problem and a measurable outcome matters.

Paris Thomas will take the discussion further with his keynote, “AI and the Future of Business: Will Your Business Be Here in 2030?”

It is a challenging question. It asks leaders to look beyond today’s workload and consider how their products, services and business models might need to change.

His hour-long session will include live AI demonstrations and enterprise case studies. It will explore how leaders can improve their current business while developing new opportunities and preparing for longer-term change.

The Event

The event will be in English.

The full programme and to book your tickets, visit: https://luma.com/ai-in-practice-cyprus

The organisers thank:

  • Silver Partners Growth Hacking Cyprus, RSEVEN, Mel’s Digital and Makkas Winery.
  • Supporters: Cyprus Computer Society, XValley Tech, Business Society Accelerator, Startup School Cyprus and Carierista.
  • Community Partners: EIT Community Hub Cyprus, CYENS, Women in Tech, Startup Greece, ECECT, CITEA, IET Cyprus and Cyprus_IT

Follow updates about the event on social media at #PanisMeetups

Uol
Aretilaw firm
eCredo
The Future Forbes Realty Global Properties

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter