Companies in Cyprus are securing state land intended for renewable energy projects but leaving it unused to block competitors, a parliamentary committee heard.
AKEL MP Christos Christofides told the House Interior Committee that this practice has left the Electricity Authority of Cyprus (EAC) struggling to find suitable plots for its own renewable energy developments.
Christofides cited previous EAC representatives’ statements to parliament as evidence of the problem. He also highlighted concerns about the lack of transparency in state land allocation procedures.
The proposed legislation would require open tenders for any state property valued above €500,000 that is designated for industrial, tourism, or commercial use. The minimum annual rent and permitted uses would need prior approval from the Council of Ministers, with tenders to be published in the Official Gazette of the Republic.
The bill aims to end what Christofides described as behind-closed-doors allocation of state assets, often at below-market rates to well-connected individuals. Former Auditor General Odysseas Michaelides had previously called for similar reforms.
If passed, the law would include an annual adjustment mechanism tied to the Consumer Price Index, starting from January 2025, to maintain the €500,000 threshold’s real value.
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