ADMIE authorized to request due diligence funding for Great Sea Interconnector

The Independent Power Transmission Operator (ADMIE) has been authorized to submit a request to the European Investment Bank (EIB) for financing a due diligence study regarding the Great Sea Interconnector (GSI) project. The decision was confirmed on May 12, 2026, during a meeting in Nicosia between the energy ministers of Cyprus and Greece, Michalis Damianos and Stavros Papastavrou, and European Energy Commissioner Dan Jorgensen. This study aims to clarify updated technical and economic parameters for the project, which may face increased costs. The initiative was previously discussed by the President of Cyprus, Nikos Christodoulides, and the Greek Prime Minister, Kyriakos Matsotakis, in November 2025. Commissioner Jorgensen reiterated the European Commission's strategic support for the GSI, noting that it has already been granted 'Project of Common Interest' status and approximately 658 million euros in EU funding via the Connecting Europe Facility. The project is designed to end Cyprus's energy isolation, stabilize the grid, and reduce electricity prices. While reports suggest the study could take several months to complete, the exact timeline is expected to be announced in the coming weeks.