Cyta announces 70 million euro investment budget for 2027

The Cyprus Telecommunications Authority (Cyta) has tabled its 2027 budget in parliament, revealing a planned investment spend of 70 million euros. This figure represents a 75 percent increase compared to the 40 million euros allocated for investments in 2026. The budget was officially submitted to the legislature on October 29, 2026.

The funds are designated for two primary projects to be executed by Cyta subsidiaries. The first is the construction of a new data center, expected to be completed within a two-year timeframe, aimed at serving local businesses, government entities, and international clients. The second project focuses on the company’s expansion into the renewable energy sector, which will also support the power requirements of the new data facility. While specific budget allocations for the energy venture remain undisclosed, the authority is officially moving toward commercial activity in the energy market.

This development follows a legislative decision in March 2026, where parliament authorized Cyta to enter the energy market despite opposition from the Electricity Authority of Cyprus (EAC). The authorization is strictly limited to renewable energy sources, as an amendment prohibits the organization from investing in conventional fuels. Cyta has indicated its intent to focus on consumer segments that currently lack access to renewable energy options.