Auditor general raises concerns over renewable energy license sales at Electricity Authority of Cyprus

On March 5, 2026, Auditor General Andreas Papakonstantinou presented findings to the Parliamentary Audit Committee regarding irregularities at the Electricity Authority of Cyprus (EAC). The investigation identified concerns over profiteering and a lack of competitive procedures in the issuance of renewable energy licenses to private individuals. It was reported that individuals received state land for photovoltaic systems, which the EAC is now compelled to lease back. Until 2023, the EAC was legally prohibited from entering the renewable energy market, forcing the authority to purchase expensive licenses from private entities to install its own parks. Allegations of cartel behavior within the sector were also raised during the committee session. The developments highlight systemic issues in the transition to green energy and the subsequent financial impact on both the state-owned authority and consumers.