January 1st 2021 was a historic day in Cyprus as it marked an end to the monopoly of the provision of electricity by the Electricity Authority of Cyprus. The first essential steps taken towards creating a competitive electricity market in Cyprus that had been long overdue.

Bioland Promithia Ltd, became the first private utility company in Cyprus to directly retail electricity to its growing customer base. After a successful launch in January, Bioland Promithia now supplies electricity to commercial and industrial customers all over Cyprus.

Notably, the company is unique for two reasons – firstly they were the first electricity supply company in Cyprus, to meet all the requirements specified in the Electricity Market Transitional Regulation Rules. Secondly they are the first energy supplier in Cyprus, to “supply its customers exclusively with green energy”. Bioland Promithia have the capacity to supply electricity to their customers from solar energy which is generated by their PV Parks situated across Cyprus.

Bioland Promithia required a company with knowledge of the sector to urgently develop an IT strategy for all the Companies of the Group and to analyse and design a new Integrated Management Information System to address its business requirements with regard to the production and selling of Electricity as well as the proper management of its assets and computerization of the environmental licensing process.

Hydro-Comp Enterprises supplied and implemented the full suite of EDAMS Management Information Systems which serve as an end-to-end solution for the Client’s business requirements with regard to producing electricity through photovoltaic parks and selling electricity to customers.

Hydro-Comp Enterprises enabled Bioland Promithia Ltd to achieve their objectives by implementing:

  • Operational systems
  • Best Practice standards, procedures and workflows
  • Integrated processes: Overcoming sectorial divisions and integrated collaboration
  • Informed and strategic decision making though reports and Performance Indicators
  • Easy access to relevant information at all levels through the use of dashboards

Of course, entering a market that has historically been dominated by one player, is never going to be an easy task. However the company highlights the differences: “The core of our business is to create green energy supply at a competitive market rate where customers have the satisfaction in knowing that the electricity they consume is produced by renewable energy sources. At Bioland Promithia we proudly service the needs of our electricity consumers through guaranteed lower prices, reliable electricity supply, informative billing and through personal customer care. We are very satisfied with the services and solutions offered by Hydro-Comp as they have enabled our Organisation to materialize its vision and improve our services.”

For more information: Bioland Promithia