< Back to situations

Get alerts on this situation

We’ll email you as it develops, and you can follow the whole thread from day one.

Unsubscribe anytime.

[SITUATION] · [ACTIVE]

2 clusters · 21 sources · 5 days · First seen 6 days ago · Last updated about 16 hours ago

Categories: BUSINESS · TECHNOLOGY

Greece cross‑border electricity interconnector development

Entities: Nexans · European Union · Copelouzos Group · Great Sea Interconnector · GREGY Interconnector

Overview

In late July 2026, ELICA, the Copelouzos Group company behind the Greece‑Egypt link, opened competitive tenders for a seabed‑survey study and an on‑shore civil‑engineering works study. These studies are required before construction of the 3,000 MW high‑voltage direct‑current (HVDC) GREGY Interconnector, the first electricity link between Africa and Europe, and are funded under the EU’s Connecting Europe Facility.

In early August 2026, French infrastructure investor Meridiam acquired a majority stake in the Great Sea Interconnector (GSI), the special‑purpose company created by ADMIE to develop the Greece‑Cyprus electricity link. On 5 August 2026, Prime Minister Kyriakos Mitsotakis presided over the signing of a shareholder agreement in Athens, confirming Meridiam’s over‑50 % ownership and a trilateral pact with ADMIE and French cable maker Nexans to start seabed‑survey work. The project, classified as an EU Project of Common Interest, will have a capacity of up to 2 GW, a total budget of about €1.9 billion, and has already secured €657 million from the Connecting Europe Facility. Both interconnectors reflect Greece’s strategy to become a regional energy hub and to integrate neighboring power systems into the broader European grid.

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 19 SOURCES] A trilateral agreement was signed between ADMIE, GSI and Nexans to carry out seabed‑survey work. (existing)
[● 19 SOURCES] The interconnector will connect the electricity grids of Greece and Cyprus, ending Cyprus’ energy isolation. (existing)
[● 19 SOURCES] The interconnector is designed for a transmission capacity of up to 2 GW. (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)
[● 18 SOURCES] Meridiam became the majority shareholder (over 50%) in Great Sea Interconnector (GSI). (multiple)
[● 12 SOURCES] The agreement was signed at the Maximos Hall in Athens on 5 August 2026, attended by Prime Minister Kyriakos Mitsotakis. (All articles)
[● 12 SOURCES] The signing marks the restart of the project after a two‑year delay caused by geopolitical uncertainties. (All articles)

Timeline

about 16 hours ago

[BUSINESS] 19 sources
Great Sea Interconnector secures Meridiam majority stake
Meridiam becomes majority shareholder in the Great Sea Interconnector, securing over‑50% of GSI and enabling the Greece‑Cyprus electricity link; a trilateral pact with ADMIE and Nexans starts seabed surveys.
6 days ago

[TECHNOLOGY] 2 sources
Greece-Egypt 3,000 MW Power Interconnector Advances with New Tenders
ELICA has opened tenders for seabed and on‑shore studies of the 3,000 MW Greece‑Egypt GREGY HVDC interconnector, the first Africa‑Europe power link, backed by EU funding.

Sources

banks.com.gr · capital.gr · dealnews.gr · fonimaleviziou.gr · greekherald.com.au · haniotika-nea.gr · hellenicshippingnews.com · iefimerida.gr · ieidiseis.gr · lifo.gr · lykavitos.gr · makthes.gr · nabu-bw.de · pelop.gr · real.gr · rethemnosnews.gr · thepressroom.gr · thestival.gr · tradeinvestsa.co.za · tromaktiko.gr · zougla.gr

This summary has been updated 1 time: see revision history