Cyta is preparing a major expansion into the energy sector, offering combined telecommunications and electricity services with an emphasis on renewable energy sources. The company presented its plan to the Cypriot Parliament, highlighting a mixed model that includes the development of Cyta-owned renewable energy projects, energy purchases from third-party producers, and collaboration with the Electricity Authority of Cyprus (EAC). The agreement is designed to be flexible, without exclusive partnerships, allowing Cyta to operate efficiently in a competitive energy market.
Expanding access to green energy
The initiative targets citizens who are currently excluded from Cyprus’s green transition. This includes residents of older apartment buildings or households without private property, who traditionally face difficulties in accessing renewable energy. Cyta plans to introduce combined service packages that integrate internet and electricity supply, making sustainable energy more widely available.
Strategic focus on energy storage
Energy storage is a key part of Cyta’s plan, as highlighted by Cyta President Maria Tsiakka. “Reducing our environmental footprint is central to our strategy, which is why energy storage is included in our roadmap,” she said, emphasising the long-term sustainability goals of the initiative.
Mixed supply model
Cyta will adopt a diverse approach to energy supply:
- Cyta-owned projects: Developing its own renewable energy parks.
- Third-party purchases: Buying energy from private producers to supplement supply.
- EAC collaboration: Purchasing both green and conventional energy from the Electricity Authority of Cyprus, with priority given to renewable sources.
- Non-exclusive agreements: Cyta does not seek exclusivity with EAC, allowing flexibility for licensing and regulatory compliance.
EAC supports the move
The Electricity Authority of Cyprus has expressed strong support for Cyta’s entrance into the energy market, describing the partnership as a “one-way street.” EAC emphasises the potential for synergy between the two public entities while cautioning that without structured cooperation, the organisations could end up competing unnecessarily.
Regulatory framework and flexibility
EAC also called for adjustments to the regulatory framework to enable more flexible operations. This includes:
- Allowing collaboration with other public and private organisations.
- Removing restrictions on bilateral contracts with renewable energy producers.
- Modifying public procurement rules to ensure competitive and efficient service delivery.
The overall goal of this initiative is to provide citizens with access to renewable energy, create synergies between public organisations, and establish a sustainable and flexible energy service model for Cyprus.
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