Despite the fact that Cyprus statistically has the best solar to energy output ratio from all the EU countries, solar related technologies as well as renewable energy technologies in general are something quite new for Cyprus who still relies on heavy mazut for its electricity production.
While up to 2008, Cyprus was still a completely virgin market for renewable energy (almost 0%) with no real incentives given for investors to set up, it was during the service of the firm's Senior Partner Antonis Paschalides as Minister of Commerce Industry and Tourism (also Minister responsible for Energy) from 2008 to 2011 that Cyprus saw its biggest advances in the field. A complete turnaround to the policy on incentives for development of renewable energy projects saw a rapid change and by the time of his resignation from office in August 2011 renewable energy sources had reached a 9% of the country's energy production and had even played an important role in the management of the energy crisis after the destruction of Cyprus' main power station in July 2011.
Although only small scale production licenses were made available by the Government of Cyprus, Antonis Paschalides & Co LLC has assisted a number of clients with the setting up of such projects.
The biggest exposure and experience acquired by the firm was through projects set up by clients outside Cyprus, which have included technologies involving solar energy, wind energy and even bio energy.