Cyprus Targets 33% Renewable Energy By 2030: A Strategic Shift

by News Editor

March 21, 2025

In a bold move towards sustainable energy, Cyprus has set a target for renewable sources to comprise one-third of its energy consumption by 2030. This initiative, unveiled by Energy Minister George Papanastasiou at a Nicosia conference, is part of the island’s revised National Energy and Climate Plan (Necp), a testament to its commitment to environmental responsibility and energy diversification.

The Current Landscape And Challenges

Amidst growing concerns about climate change and fluctuating global energy markets, largely due to geopolitical tensions, Cyprus faces the dual challenge of high fossil fuel dependency and lack of energy interconnectivity with Europe. These factors inflate energy costs, underscoring the urgent need for renewable energy solutions.

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Innovative Solutions On The Horizon

In tackling the intermittent nature of renewable energy, Cyprus is exploring advanced energy storage technologies and hydrogen solutions. The island recently kicked off a national consultation on a hydrogen strategy, marking February 28 as a pivotal date for stakeholder engagement. Findings from the European Commission-backed REPowerEU initiative further support the strategic inclusion of hydrogen by introducing hydrogen-fueled transportation by 2030.

The Broader Context

As Cyprus navigates its energy challenges, it continues to monitor changing global landscapes. For instance, countries like Finland, celebrated for renewable innovations, provide inspiration for sustainable progress. The integration of modern technologies aligns with Cyprus’ strategic goals, promising a more secure, cost-effective future amid global transitions.

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Eurobank Wins Two Euromoney Awards Following Cyprus Merger

by THEFUTURE.TEAM

July 17, 2026

Eurobank has been named Cyprus’ Best Bank for 2026 by Euromoney, while also receiving the award for Best Bank for Large Corporates at the publication’s latest Awards for Excellence.

Merger Marks A Milestone

The awards recognise the bank’s performance during 2025, a year marked by the completion of the legal merger between Hellenic Bank and Eurobank Cyprus. The transaction created Eurobank Limited, which the group says is now Cyprus’ largest banking and insurance organisation, with assets exceeding €28 billion.

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Euromoney’s Awards for Excellence evaluate banks’ performance over the previous calendar year, with this edition covering January 1 to December 31, 2025.

Lending, Customers And Digital Growth

Eurobank said its business lending portfolio expanded by around 17 per cent during 2025, while its customer base grew to more than 710,000 retail clients and 11,500 business customers.

The bank also continued its digital expansion, saying more than 96 per cent of transactions are now completed through digital channels, and most financing applications are submitted via its mobile app.

Expanding International Presence

Eurobank also highlighted the opening of its first representative office in India, describing the move as a step toward strengthening business links between Cyprus and India while supporting Cyprus’ role as a gateway to the European Union for Indian businesses and investors.

According to the bank, Euromoney recognised not only the successful completion of the merger but also its lending growth, digital transformation and contribution to Cyprus’ position as an international business and investment hub.

CEO On The Awards

“The Euromoney awards confirm Eurobank’s strong momentum and the successful implementation of our group’s strategy in Cyprus,” Chief Executive Michalis Louis said.

He said the merger strengthened the bank’s ability to support households, businesses and the wider economy, while highlighting continued investment in digital services and the opening of the representative office in India as key milestones during the year.

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