started · updated
Meridiam becomes majority shareholder in Greece‑Cyprus Great Sea Interconnector
On 5 August 2026 the Greek government signed a series of agreements at the Maximos Mansion in Athens to revive the Great Sea Interconnector (GSI) project linking the electricity grids of Greece and Cyprus. French infrastructure investor Meridiam acquired a majority stake of more than 50 % in the special‑purpose company GSI, providing additional capital and expertise. The Independent Power Transmission Operator (IPTO) remains a strategic shareholder and retains technical leadership of the project, which will have a transmission capacity of up to 2 GW.
The €1.9 billion interconnector, designated a European Union Project of Common Interest, has already secured €657 million from the Connecting Europe Facility. A three‑party agreement with cable manufacturer Nexans was also signed to commence seabed‑survey work, with the surveys expected to be completed by the end of 2026. Greek Prime Minister Kyriakos Mitsotakis called the deal a “strong vote of confidence” in Greece’s energy sector and a step that will end Cyprus’s energy isolation, while French President Emmanuel Macron expressed daily interest in the project’s progress. The partnership is seen as strengthening regional energy security and supporting the EU’s renewable‑energy integration goals.
Entities
ADMIE · Cyprus · Great Sea Interconnector · Great Sea Interconnector (GSI) · Greece · IPTO (ADMIE) · Independent Power Transmission Operator (IPTO) · Independent Power Transmission Operator (IPTO/ADMIE) · Kyriakos Mitsotakis · Meridiam · Nexans
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 22 SOURCES] The signing marks the restart of the project after a two‑year delay caused by geopolitical uncertainties. www.tromaktiko.gr · banks.com.gr · www.lykavitos.gr · www.capital.gr · www.ieidiseis.gr · +10 more
- [● 28 SOURCES] The agreement was signed at the Maximos Mansion in Athens on 5 August 2026. www.tromaktiko.gr · banks.com.gr · www.lykavitos.gr · www.capital.gr · www.ieidiseis.gr · +15 more
- [● 29 SOURCES] The project is an EU Project of Common Interest and receives funding from the Connecting Europe Facility. www.tromaktiko.gr · banks.com.gr · www.lykavitos.gr · www.capital.gr · www.ieidiseis.gr · +15 more
- [● 29 SOURCES] The total budget of the interconnector is about €1.9 billion, with €657 million already secured from the Connecting Europe Facility. www.tromaktiko.gr · banks.com.gr · www.lykavitos.gr · www.capital.gr · www.ieidiseis.gr · +15 more
- [● 31 SOURCES] A three‑party agreement was signed between IPTO, GSI and Nexans to commence seabed‑survey work. www.tromaktiko.gr · banks.com.gr · www.lykavitos.gr · www.capital.gr · www.ieidiseis.gr · +16 more
- [● 33 SOURCES] Meridiam acquired a majority (>50%) share in Great Sea Interconnector (GSI). www.tromaktiko.gr · banks.com.gr · www.lykavitos.gr · www.capital.gr · www.ieidiseis.gr · +20 more
- [● 29 SOURCES] The interconnector is designed for a transmission capacity of up to 2 GW. www.tromaktiko.gr · banks.com.gr · www.lykavitos.gr · www.capital.gr · www.ieidiseis.gr · +15 more
- [● 29 SOURCES] The interconnector will connect the electricity grids of Greece and Cyprus, ending Cyprus’ energy isolation. www.tromaktiko.gr · banks.com.gr · www.lykavitos.gr · www.capital.gr · www.ieidiseis.gr · +15 more
- [● 18 SOURCES] Meridiam became the majority shareholder (over 50%) in Great Sea Interconnector (GSI). www.tromaktiko.gr · banks.com.gr · www.lykavitos.gr · www.capital.gr · www.haniotika-nea.gr · +6 more
- [● 19 SOURCES] The agreement is expected to accelerate financing and implementation of the project. www.reporter.gr · greekherald.com.au · www.lykavitos.gr · maritimes.gr · banks.com.gr · +10 more
- [● 2 SOURCES] Seabed‑survey work by GSI, IPTO and Nexans is scheduled to be completed by the end of 2026. www.dimokratiki.gr · www.reporter.gr
- [● 3 SOURCES] IPTO remains a strategic shareholder and retains technical leadership of the project. maritimes.gr · www.insider.gr