Great Sea Interconnector secures Meridiam majority stake
On 5 August 2026, Greek Prime Minister Kyriakos Mitsotakis presided over the signing of a shareholder agreement at the Maximos Hall in Athens. The deal makes the French infrastructure investor Meridiam the majority shareholder (over 50 %) in the Great Sea Interconnector (GSI), the special‑purpose company created by ADMIE to develop the Greece‑Cyprus electricity link.
The agreement also includes a trilateral pact between ADMIE, GSI and French cable maker Nexans to commence seabed‑survey work, a prerequisite for laying the submarine cable. The interconnector, designated a European Union Project of Common Interest, will have a transmission capacity of up to 2 GW and is expected to end Cyprus’s energy isolation, improve renewable‑energy integration and boost energy security across the Eastern Mediterranean. The project’s total budget is about €1.9 billion, with €657 million already secured from the Connecting Europe Facility.
Mitsotakis described the Meridiam investment as “a strong vote of confidence in Greece’s energy sector” and emphasized the strategic importance of the link for both Greece, Cyprus and the wider EU.
Entities: ADMIE · Cyprus · Great Sea Interconnector · Great Sea Interconnector (GSI) · Greece · Kyriakos Mitsotakis · Meridiam · Nexans
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 12 SOURCES] The signing marks the restart of the project after a two‑year delay caused by geopolitical uncertainties. (All articles)
- [● 12 SOURCES] The agreement was signed at the Maximos Hall in Athens on 5 August 2026, attended by Prime Minister Kyriakos Mitsotakis. (All articles)
- [● 19 SOURCES] A trilateral agreement was signed between ADMIE, GSI and Nexans to carry out seabed‑survey work. (existing)
- [● 19 SOURCES] The project is an EU Project of Common Interest and receives funding from the Connecting Europe Facility. (existing)
- [● 19 SOURCES] The total budget of the interconnector is about €1.9 billion, with €657 million already secured from the Connecting Europe Facility. (existing)
- [● 12 SOURCES] Meridiam acquired a majority (>50%) share in Great Sea Interconnector (GSI). (All articles)
- [● 19 SOURCES] The interconnector is designed for a transmission capacity of up to 2 GW. (existing)
- [● 19 SOURCES] The interconnector will connect the electricity grids of Greece and Cyprus, ending Cyprus’ energy isolation. (existing)
- [● 18 SOURCES] Meridiam became the majority shareholder (over 50%) in Great Sea Interconnector (GSI). (multiple)