Great Sea Interconnector project advances with new investment and funding

The Great Sea Interconnector (GSI) project, aimed at establishing an electrical interconnection between Greece and Cyprus via Crete, is entering a critical implementation phase. Recent developments indicate a transition from political assurances to field operations, including the planned resumption of seabed surveys and cable laying.

A significant catalyst for this momentum is the entry of the French investment group Meridiam into the GSI project. This involvement is viewed as a vote of confidence in the project's economic viability. Additionally, the Greek Independent Power Transmission Operator (ADMIE) has included the interconnection in its new 10-year investment program for 2027-2036.

In terms of financial commitments, Cypriot President Nikos Christodoulides has agreed with Greek Prime Minister Kyriakos Mitsotakis to contribute 25 million euros from the Republic of Cyprus. This payment is scheduled to be released once the NAVTEX is issued to allow for the continuation of surveys. Both leaders have emphasized cooperation, stating there are no points of friction between Athens and Nicosia regarding the project.