Cyprus government confirms progress on Great Sea Interconnector project

Energy Minister of Cyprus, Michalis Damianos, officially confirmed on September 6, 2026, that the Great Sea Interconnector (GSI) project is proceeding as planned. Addressing recent speculation, the minister stated that the power line, which aims to connect Cyprus to Crete and eventually Israel, will definitely transit through Cyprus. Following an agreement between President Nikos Christodoulides and Greek Prime Minister Kyriakos Mitsotakis, a new investor has joined the initiative, and a due diligence study is currently underway to assess exact costs and future financing.

While the government maintains its support, the project faces scrutiny regarding its economic viability. The European Union has allocated 658 million euros to the venture, but officials are monitoring potential cost increases to ensure that expenses are not unfairly shifted to Cypriot consumers. Simultaneously, experts like electrical engineer Iakovos Charalambous have questioned the project's overall risk, citing concerns over cost overruns, future electricity pricing, and the level of benefit for the local public. An independent audit of the cost-benefit analysis has been requested to provide clarity on these financial uncertainties as the project moves into its next development phases.