Greece and Cyprus have officially signed the agreement to build the Great Sea Interconnector, a subsea electricity cable...

Greece and Cyprus have officially signed the agreement to build the Great Sea Interconnector, a subsea electricity cable that will end Cyprus' complete dependence on its own isolated power grid. French infrastructure giant Meridiam has acquired a majority stake of more than 50% in the special-purpose company developing the project, bringing the total weight of Meridiam's global portfolio to roughly 100 billion euros across more than 130 infrastructure projects. Prime Minister Kyriakos Mitsotakis, speaking at the signing ceremony on Wednesday, called Meridiam's entry a strong vote of confidence in Greece's energy sector. He said the project would end Cyprus' energy isolation while strengthening energy security across the Eastern Mediterranean and boosting Europe's overall resilience. Greece's Independent Power Transmission Operator, ADMIE, will remain a strategic partner even after ceding majority control, retaining minority protection rights and continuing to lead technical development and eventual operation of the cable. French cable manufacturer Nexans also signed a cooperation agreement alongside the shareholder deal to accelerate construction timelines. The first concrete step begins immediately, with marine seabed surveys set to launch as one of the most critical technical milestones before the physical cable can be laid. European Investment Bank financing approval procedures are also ongoing in parallel. Meridiam's track record includes the NeuConnect subsea interconnector linking the UK and Germany, making it one of the more experienced operators in exactly this type of project. The same company built France's Sud Europe Atlantique high-speed rail line and the Sofia Airport. ADMIE is separately advancing a Cyprus-Israel electricity interconnection, with a cost-benefit analysis set to be submitted to Cypriot and Israeli regulators within days. Greece has already completed the Crete-Attica interconnection, which entered operation in 2025, and additional island links for Santorini, Milos, and the Dodecanese are in progress. Officials framed the agreement as a step toward making Greece a central energy hub connecting Eastern Mediterranean power syste...