# Greece cross‑border electricity interconnector development

> Live situation record from CLSTR: https://clstr.news/situations/greece-crossborder-electricity-interconnector-development
> Updated: 2026-08-05T11:32:00.000Z. Sources: 21. Developments: 2.

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

- A trilateral agreement was signed between ADMIE, GSI and Nexans to carry out seabed‑survey work. (corroborated by 19 sources)
- The interconnector will connect the electricity grids of Greece and Cyprus, ending Cyprus’ energy isolation. (corroborated by 19 sources)
- The interconnector is designed for a transmission capacity of up to 2 GW. (corroborated by 19 sources)
- The project is an EU Project of Common Interest and receives funding from the Connecting Europe Facility. (corroborated by 19 sources)
- The total budget of the interconnector is about €1.9 billion, with €657 million already secured from the Connecting Europe Facility. (corroborated by 19 sources)
- Meridiam became the majority shareholder (over 50%) in Great Sea Interconnector (GSI). (corroborated by 18 sources)
- The agreement was signed at the Maximos Hall in Athens on 5 August 2026, attended by Prime Minister Kyriakos Mitsotakis. (corroborated by 12 sources)
- The signing marks the restart of the project after a two‑year delay caused by geopolitical uncertainties. (corroborated by 12 sources)

## Timeline

### 2026-08-05: 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.

19 sources. https://clstr.news/cluster/meridiam-gains-majority-stake-in-greececyprus-power-cable-project

### 2026-07-31: 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.

2 sources. https://clstr.news/cluster/greece-egypt-3000-mw-power-interconnector-advances-with-new-tenders

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Cite as: Greece cross‑border electricity interconnector development. CLSTR, https://clstr.news/situations/greece-crossborder-electricity-interconnector-development