French group Meridiam to lead Great Sea Interconnector project

Greek Prime Minister Kyriakos Mitsotakis has officially welcomed the entry of the French investment group Meridiam as the majority shareholder of the Great Sea Interconnector (GSI). This strategic energy project, aimed at connecting the electricity grids of Cyprus and Greece, will also feature the French company Nexans, which is tasked with the manufacturing and laying of the undersea cable. According to the Prime Minister, the involvement of these French partners provides significant financial and technical momentum, effectively ending Cyprus’ energy isolation and positioning Greece as a crucial regional energy hub.

Following this political development, the project is moving into a new phase. Greek authorities are expected to issue a NAVTEX in the coming weeks to resume seabed surveys in the area between Crete and Cyprus. Additionally, the Cypriot Minister of Energy, Michalis Damianou, noted that the European Investment Bank (EIB) is expected to complete its due diligence study by the end of the year. Amidst the announcement, Prime Minister Mitsotakis dismissed recent Turkish objections regarding renewable energy planning, asserting that Greece acts in full accordance with international law and will not allow unlawful claims or threats to hinder the progress of its national infrastructure projects.