Great Sea Interconnector project advances with investment request for Cyprus-Israel link

The Independent Power Transmission Operator (IPTO/ADMIE) has submitted a formal investment request to the regulatory authorities of Cyprus and Israel regarding the Cyprus-Israel section of the Great Sea Interconnector (GSI) project. This move, conducted under the European TEN-E regulatory framework, follows the completion of comprehensive cost-benefit analyses and proposals for cross-border cost allocation. The development comes one week after the French investment group Meridiam signed an agreement to become the majority shareholder in the project company, signaling renewed momentum for the strategic energy link.

The submission marks a critical phase in the implementation process, as it serves as a prerequisite for regulators in both countries to conduct formal assessments and reach a joint decision on cost-sharing. IPTO, which is championing the project to end Cyprus's energy isolation, confirmed that cost-benefit studies demonstrate the project's viability across all examined scenarios. Despite this progress, internal political discourse in Cyprus remains complex, as government officials continue to deliberate on the national stance regarding the project's financial risks and terms, following previous concerns raised by the Finance Ministry.

Moving forward, once the regulators reach an agreement on the cost allocation, a final investment decision will be made, initiating the financing stage for the interconnector. IPTO aims to attract further international investors to support the project's execution.