Cyprus Renewable Electricity Share Climbs To 36.88% In May

Cyprus continued to increase the share of renewable energy in its electricity mix in May 2026, with renewables accounting for 36.88% of total power generation, according to figures cited by Eurostat. The latest data point to steady progress throughout the year, although the island still lags the European Union average.

Renewable Generation Continues To Climb

The share of electricity generated from renewable sources has risen consistently since the start of 2026. It increased from 19.71% in January to 24.68% in February, before climbing to 26.05% in March, 29.23% in April and 36.88% in May, the highest level recorded so far this year.

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The figures reflect the growing role of renewable energy in Cyprus’ electricity mix as the country continues its transition toward cleaner power generation.

Cyprus Still Trails The EU Average

Despite that progress, Cyprus remains below the EU average. During the first quarter of 2026, renewable sources accounted for 23.5% of electricity generation on the island, compared with 45.5% across the bloc.

EU-wide, the share of renewable electricity rose from 42.7% in the first quarter of 2025 to 45.5% a year later, highlighting the continued expansion of clean energy across member states.

Wind power remained the largest source of renewable electricity in the EU, accounting for 44.9% of total renewable generation, followed by hydropower at 28% and solar energy at 17.3%.

Denmark Continues To Lead Europe

Among member states, Denmark recorded the highest share of electricity generated from renewable sources at 90%, ahead of Portugal with 82.9% and Lithuania with 75.7%. At the other end of the ranking, the Czech Republic generated 12.7% of its electricity from renewables, followed by Malta at 13% and Slovakia at 17.2%.

While Cyprus still trails the European average, the steady increase recorded during the first five months of the year suggests the country’s renewable energy capacity continues to expand as it gradually reshapes its electricity mix.

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ECB Orders Eurozone Banks To Prepare For AI-Driven Cyber Threats

by THEFUTURE.TEAM

July 8, 2026

The European Central Bank has given eurozone banks until October 31 to submit plans outlining how they will defend against AI-enabled cyber threats, reflecting growing concern among regulators over the impact of artificial intelligence on financial stability.

Regulators Raise The Alarm On AI-Powered Cyber Risk

The ECB’s directive comes as increasingly sophisticated AI models are expanding cyber capabilities, raising concerns about the resilience of critical financial infrastructure.

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Some frontier AI systems, including Anthropic’s Mythos, have become so capable that access to them has been restricted, a limitation that currently applies to eurozone banks.

“These developments have potentially profound implications for the confidentiality, integrity and resilience of banks’ information and communication technology (ICT) systems,” the ECB said in a letter to bank chief executives.

Focus Shifts To Critical Systems

The central bank instructed lenders to prioritise internet-facing systems and other critical technology assets, including third-party software and open-source components. It also called for faster vulnerability management, stronger monitoring capabilities and improved cyber hygiene.

Beyond technical safeguards, the ECB urged banks to modernise ageing infrastructure and strengthen crisis management, recovery planning and information-sharing arrangements.

To support the initiative, the ECB has postponed a separate IT survey and said it may adjust inspections and other supervisory activities.

Cybersecurity Becomes A Financial Stability Issue

In a separate warning issued alongside the ECB’s letter, the European Systemic Risk Board (ESRB) said large-scale cyberattacks could undermine confidence in financial institutions and, in severe cases, trigger runs on banks or jurisdictions perceived as less secure.

“The ESRB considers these developments to be a source of systemic risks to the financial system,” the board said.

The report outlines a range of scenarios, from gradual losses of confidence in individual institutions to coordinated attacks targeting payment, clearing and settlement systems, potentially amplified by disinformation campaigns.

According to the ESRB, cyber incidents could spread rapidly through shared software providers and common technology platforms, allowing a single breach to escalate into a broader financial disruption.

A Growing Priority For Banks

The ECB’s latest guidance underscores how cybersecurity is becoming a core prudential issue rather than simply an operational concern.

As banks deepen their reliance on digital infrastructure, cloud services and third-party technology, regulators increasingly view cyber resilience alongside capital, liquidity and risk management as a key pillar of financial stability.

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