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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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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