Europe needs to rethink its energy strategy as growing renewable energy capacity has failed to deliver the expected reduction in electricity costs and market volatility, former Energy Minister Natasa Pilides told a gathering of maritime and business professionals in Limassol.
Speaking at the Cyprus Marine Club’s October Get-Together last week, Pilides examined the challenges facing Europe’s energy sector, arguing that greater flexibility and a more balanced approach are needed to strengthen competitiveness.
The event, held at Gazebo Mare in Limassol, brought together more than 100 members, guests and professionals from the maritime, energy and wider business communities.
Pilides, who made history as Cyprus’ first Shipping Deputy Minister before serving as Minister of Energy, Commerce and Industry, delivered a presentation entitled The Energy Trilemma: Trade-Offs Shaping the European Landscape.
Drawing on her experience in both government and business, she examined the difficult balance between energy security, affordability, sustainability and competitiveness, particularly as Europe continues its transition towards cleaner energy.
According to Pilides, expanding renewable energy generation alone is insufficient to address the challenges facing European energy markets.
She argued that the importance of developing appropriate supporting infrastructure had been largely overlooked in European policymaking, with increases in renewable energy capacity consequently failing to bring the anticipated reductions in price volatility, uncertainty and energy bills.
As a result, she called for a change of approach at both European and regional level to address these shortcomings and improve competitiveness.
Her remarks also carried particular relevance for shipping and energy companies, where investment decisions often involve substantial capital commitments and long-term planning.
In these sectors, Pilides stressed the importance of maintaining flexibility in investment strategies, allowing businesses to respond to changing market conditions instead of remaining tied to decisions that may eventually become outdated.
Beyond the energy debate, the gathering also reflected the continued expansion of the Cyprus Marine Club, which has strengthened its professional network across the island’s maritime and wider business sectors.
Opening the evening, the club’s president, Capt. Eberhard Koch, welcomed members and guests, thanking them for their continued involvement and support.
He also announced the addition of three new corporate members, PwC, Orbyt Global Group and SOPIVERI Consulting Ltd, alongside two new individual members.
With these additions, the club’s membership has grown to nearly 200, including 114 corporate entities, further expanding its network of maritime and business professionals.
Koch also outlined the club’s programme of forthcoming activities through July 2027, combining professional presentations with networking and social events.
Among the events scheduled are the CMC Countryside Escape – The Farmakas Experience on November 14, the Christmas Networking Evening on December 3 and the New Year’s Gala at Parklane in Limassol on January 23, 2027.
Meanwhile, the evening provided an opportunity for participants to exchange views on the challenges facing the maritime and energy industries, while strengthening professional relationships across the two sectors.
Through its regular gatherings, the Cyprus Marine Club continues to bring together industry representatives and business leaders to discuss developments affecting shipping, energy and the wider economy.
