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Greece-Cyprus electricity link: Deal signed with Meridiam for Great Sea Interconnector
🇬🇷 Greece /Energy & Infrastructure

Greece-Cyprus electricity link: Deal signed with Meridiam for Great Sea Interconnector

From Ta Nea · () Greek

Translated from Greek, summarized and contextualized by DistantNews.

At a glance

News Named sources New plan
  • France's Meridiam will be the majority shareholder in the Great Sea Interconnector (GSI) project, linking Greece and Cyprus.
  • The project aims to end Cyprus's energy isolation and bolster Eastern Mediterranean energy security.
  • Prime Minister Kyriarchos Mitsotakis hailed the agreement as a strong vote of confidence in Greece's energy sector and a significant European endeavor.

France's Meridiam has signed an agreement to become the majority shareholder in the Great Sea Interconnector (GSI) project, a significant European endeavor aiming to link Greece and Cyprus via an electricity cable. Prime Minister Kyriarchos Mitsotakis celebrated the deal, calling it a "strong vote of confidence" in Greece's energy sector.

The GSI project is expected to be crucial in ending Cyprus's energy isolation. It will also enhance energy security in the Eastern Mediterranean and improve Europe's resilience against contemporary energy challenges. The agreement was signed during a ceremony where Meridiam's entry as the lead investor was formalized.

strong vote of confidence

— Kyriarchos MitsotakisPrime Minister Kyriarchos Mitsotakis described Meridiam's participation in the Great Sea Interconnector project as a strong vote of confidence in Greece's energy sector.

Additionally, a trilateral agreement was signed between the Hellenic Transmission System Operator (ADMIE), GSI, and Nexans for subsea survey work essential for the project's realization. Meridiam, headquartered in Paris, is a major international investor and infrastructure project manager with a portfolio of over 130 projects across Europe, the United States, the Middle East, and Africa, mobilizing approximately 100 billion euros in investments.

we unite forces in a project of common European interest

— Kyriarchos MitsotakisPrime Minister Kyriarchos Mitsotakis highlighted the collaborative nature of the Great Sea Interconnector, stating that the partnership represents a significant European endeavor.
DistantNews Editorial

Originally published by Ta Nea in Greek. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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