Great Sea Interconnector enters implementation phase following high-level diplomatic push

The Great Sea Interconnector (GSI) project, linking the electricity grids of Greece and Cyprus, has entered a decisive implementation phase following high-level consultations between President Nikos Christodoulides, Prime Minister Kyriakos Mitsotakis, and President Emmanuel Macron. These discussions, held after the August 5, 2026, signing ceremony in Athens, focused on accelerating the project after the French firm Meridiam acquired a 66% majority stake in the GSI and Nexans secured the €1.4 billion cable contract.

Authorities expect to issue a Navtex in the coming weeks to resume critical bathymetric seabed surveys, approximately 60% of which are complete. These surveys, which will be conducted by a French vessel potentially escorted by military assets, are essential for determining the final cable route and overcoming historical interference from Turkey. Simultaneously, the project promoter, ADMIE, has submitted a request to the European Investment Bank for a €1 billion loan, representing half of the project's total estimated budget, to solidify the financial roadmap for this strategic European project.