A French infrastructure giant just took a majority stake in the project designed to end Cyprus' energy isolation. Meridi...

A French infrastructure giant just took a majority stake in the project designed to end Cyprus' energy isolation. Meridiam, a Paris-based investment group with close ties to the French state, signed an agreement today at the Maximos Mansion in Athens to acquire more than 50% of Great Sea Interconnector, the company developing the planned undersea electricity cable between Greece and Cyprus. Prime Minister Kyriakos Mitsotakis attended the signing ceremony alongside Environment Minister Stavros Papastavrou and senior officials from both countries. The Great Sea Interconnector has faced years of delays driven by geopolitical tensions, disagreements between Athens and Nicosia over financing and implementation, and opposition from Ankara. Meridiam had been in discussions on the project since autumn 2024, following a trilateral meeting in Paris between French President Emmanuel Macron, Mitsotakis, and Cypriot President Nikos Christodoulides. Momentum picked up again after Macron's visit to Greece last April, with Meridiam CEO Thierry Déau part of the French business delegation on that trip. A separate tripartite agreement was also signed today between ADMIE, the Great Sea Interconnector, and French cable manufacturer Nexans to carry out offshore seabed surveys. Those surveys will determine the final route of the subsea cable, a critical technical milestone before construction can begin. Nexans Executive Vice President Pascal Radue and the Chargé d'Affaires of the French Embassy were among those present at the ceremony. Meridiam brings more than just capital to the project. The firm has a strong track record with the European Investment Bank and the European Bank for Reconstruction and Development, and previously completed a comparable undersea interconnector linking the United Kingdom and Germany. Analysts say its involvement significantly boosts the project's international credibility and financing capacity. Whether this French-backed push can finally overcome the geopolitical obstacles, particularly pressure from Ankara, will determine whether the cable is ever built. #Greece #Cyprus #EnergyPolicy