Bank emphasises investment role in Cyprus’ energy transition

Eurobank on Thursday released a statement detailing its participation at the 13th Energy Symposium, which took place in Nicosia this week.

Eurobank was an official sponsor of the symposium, which, according to the bank, enabled it to underline the need to “accelerate the energy transition while leveraging Cyprus’ strategic location”.

The event, held under the theme ‘Time for energy projects’, focused on the major challenges facing the energy sector amid global geopolitical instability, the widening international energy crisis and the growing need to expand the use of renewable energy sources.

Discussions centred on natural gas, electricity, renewables and the need to secure a more modern, competitive and sustainable energy model.

The announcement mentioned that the symposium “aimed to advance Cyprus’ energy planning and support the development of natural gas reserves by offering a technocratic framework for the country’s next steps”.

Speaking during the proceedings, Phivos Stasopoulos, general manager of Eurobank’s large corporate banking division, stressed that “Cyprus has both the privilege and the responsibility to serve as a bridge between Europe, the Middle East and Asia“, while highlighting the country’s role as an emerging economic, financial and energy hub.

He stated that Eurobank has the expertise, liquidity and capital to support investments that “change the country’s energy landscape,” placing emphasis on the bank’s position at the forefront of financing renewable energy projects.

In addition, Stasopoulos said that “almost all wind farms and a significant number of photovoltaic installations have already received backing from the bank, alongside projects involving energy efficiency technologies, smart energy infrastructure and energy storage systems, which form a critical part of the green transition”.

He also underlined the bank’s broader commitment to sustainable development, describing the energy transition as both a responsibility and an opportunity.

What is more, he explained that “the transition, combined with supply security and the competitiveness of the economy, requires cooperation across all levels of society, including the state, businesses, investors and financial institutions”.

Stasopoulos stated that “the bank prioritises green investments that generate positive impact for the economy, society and the environment”.

He also referred to Cyprus’ geostrategic position, saying that it “creates new investment prospects from rapidly growing markets such as India, where Eurobank is opening a new office in Mumbai, as well as from Saudi Arabia and Israel”.

Stasopoulos added that “these moves create real opportunities for Cypriot companies seeking expansion and for international investors looking for access to the European market through a stable and reliable environment”.

“The bank will continue supporting projects that transform the economy and assist in positioning Cyprus as a modern, connected and sustainable energy hub,” he concluded.