[REVISION HISTORY]

Cyprus electricity gap amid offshore gas project

Updated 2 times since CLSTR started tracking revisions of this situation.

What changed

2026-07-27 09:20 UTC → 2026-07-31 13:35 UTC · added ~~removed~~

Cyprus electricity ~~supply~~ gap amid offshore gas project

In late June 2026 analysts warned that Cyprus would face a serious electricity shortfall after 2029 when several steam units at the Dhekelia and Vasilikos plants retire, halving conventional capacity. The government’s response is a package aimed at cheap, climate‑neutral power and improved system adequacy. The Energy, Trade and Industry Ministry, led by Michalis Damianos, plans to finish the partially built Vasiliko gas‑turbine plant by 2030 and commission new gas‑fired units in 2028‑2029 to back up expanding solar generation. Over 360 000 smart meters have been installed ahead of a 2026 deadline, and EU‑funded projects worth about €120 million support network upgrades. Battery storage is central. Contracts for 125 MW of storage, announced on 26 July 2026, will be delivered in January 2027 and installed before the summer, adding to the regulator‑approved 150 MW of private‑sector storage and CEPA’s 180 MW programme (80 MW and 100 MW expected by mid‑2027). Several hundred megawatts of storage should be operating by the end of 2027, helping to curb prices and improve reliability. On 31 July 2026 the government gave regulatory approval to develop the Cronos offshore gas field – Cyprus’ first commercial offshore reserve – with production slated for 2028. Gas will be processed in Egypt and exported as LNG, contributing to Europe’s diversification of supplies. Ministers stressed that natural‑gas delivery is essential to offset the loss of up to half of conventional generation by 2030, and highlighted a 120 MW storage facility expected to be operational from next January. The Cyprus Electricity Market Association warned on 27 July 2026 that delays in issuing connection terms are slowing storage projects, contributing to high PV curtailment – 66 % in April – and lost residential solar output that could have powered roughly 7,500 households. ~~The association argues faster storage deployment is essential to lower consumer bills and make better use of renewable generation.~~

Versions

Only revisions since CLSTR began indexing content versions appear here. Select a version to see what changed compared to the one before it.