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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.

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.

Cyprus Property Deals Reach €286 Million Despite Second-Quarter Uncertainty

Cyprus’ high-end property market remained active in the first half of 2026, although geopolitical uncertainty may have weighed on investment activity during the second quarter.

€286.4 Million Across The 50 Largest Deals

Property transactions worth a combined €286.4 million ranked among Cyprus’ 50 highest-value deals completed between January and June, according to real estate analytics firm Ask Wire.

Examining the country’s biggest sales across all districts, the report found that the 10 largest transactions alone accounted for €161.7 million, highlighting the concentration of activity at the upper end of the market.

Limassol Extends Its Lead

A €55 million sale involving a building and adjoining fields in Moni was the largest property transaction recorded during the period.

Six of the country’s 10 biggest deals took place in Limassol, with a combined value of €117.2 million. Paphos followed with three transactions worth €35.5 million, while Larnaca recorded one €9 million sale.

Across the broader ranking, Limassol’s 10 largest transactions reached €148.2 million, representing 51.7% of the total value of the top 50 deals. Paphos followed with €68.8 million (24%), while Nicosia recorded €26.7 million. Famagusta narrowly surpassed Larnaca, reaching €21.4 million compared with €21.2 million.

Land Continues To Drive High-Value Deals

According to Ask Wire CEO Pavlos Loizou, land acquisitions continue to dominate Cyprus’ largest property transactions.

“The land market dominates the list of the 10 highest-value property transactions, with seven sales involving fields and plots.”

Many of those sites are expected to be developed into luxury residential and hospitality projects, he added.

Office Demand Remains Strong

Growing demand for office space also reflects the expansion of international companies establishing operations in Cyprus, Loizou said.

“We continue to observe growing demand for office properties, reflecting the expansion of the new ecosystem of international companies that has been establishing itself in Cyprus in recent years.”

Eight of the 10 largest transactions were completed during the first quarter of 2026, with activity slowing in the following three months.

Loizou said the slowdown may reflect investor caution linked to the conflict in the Middle East, which appears to have influenced investment decisions during the second quarter.

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