French firm Meridiam becomes majority shareholder in Great Sea Interconnector project

Greek Prime Minister Kyriakos Mitsotakis confirmed on August 23, 2026, that the French investment firm Meridiam has reached an agreement to become the majority shareholder of the Great Sea Interconnector (GSI) project. This strategic development is expected to bolster the financial and technical capabilities of the electrical link between Greece and Cyprus. Additionally, the French company Nexans has been selected to handle the manufacturing and installation of the subsea cable.

The project is designed to permanently end the energy isolation of Cyprus by connecting the island to the Greek electricity grid. According to Mitsotakis, this infrastructure will transform Greece into a vital regional energy hub and facilitate the increased integration of renewable energy sources. This agreement serves as a significant endorsement of Greek energy infrastructure and promotes deeper bilateral cooperation.

Beyond the infrastructure project, the Prime Minister addressed regional geopolitical tensions, specifically responding to recent Turkish objections regarding Greece's renewable energy spatial planning. Mitsotakis dismissed Turkish claims of 'grey zones' in the Aegean, reiterating that Greece remains committed to international law while asserting its sovereign rights.