Great Sea Interconnector enters new phase with French involvement

On August 5, 2026, a significant agreement was signed at the Maximos Mansion in Athens, marking the entry of the French investment group Meridiam as the majority shareholder, holding a 66% stake in the Great Sea Interconnector (GSI) project. This agreement, which includes a partnership between the Greek Independent Power Transmission Operator (ADMIE), GSI, and the French company Nexans, aims to facilitate the completion of seabed surveys necessary for the electric interconnection between Greece and Cyprus.

Despite these developments, regulatory authorities, including the Cyprus Energy Regulatory Authority (RAEK) and the Greek Regulatory Authority for Energy (RAAEY), requested detailed information regarding the transaction 25 days ago. Reports indicate that ADMIE has not yet provided a formal response. While the deal is positioned as a strategic step to end Cyprus's energy isolation, analysts emphasize that it remains a corporate and political agreement that must still clear regulatory hurdles and secure full construction funding before the project can transition into full implementation.