Greece has signed a landmark agreement with French infrastructure investment group Meridiam to advance the strategic electricity interconnection linking Greece and Cyprus, a project regarded as one of Europe's most important energy infrastructure investments.
The agreement is expected to strengthen the financial foundation of the Great Sea Interconnector, reinforcing the project's long-term viability while supporting the European Union's goal of improving energy security and market integration across the Eastern Mediterranean.
A Strategic Investment in Europe's Energy Future
The partnership brings Meridiam, one of Europe's leading long-term infrastructure investors, into the project as a strategic partner.
The investment is expected to accelerate implementation of the submarine electricity cable, which will end Cyprus' energy isolation and connect its electricity grid with Greece and, eventually, Israel through one of the world's longest and deepest subsea power links.
Strengthening Europe's Energy Security
Greek officials describe the interconnection as a project of major geopolitical and economic importance.
Beyond improving the reliability of electricity supply, the cable is expected to facilitate greater integration of renewable energy sources, increase cross-border electricity trading and strengthen the resilience of Europe's energy network at a time of heightened geopolitical uncertainty.
A Flagship EU Infrastructure Project
The Great Sea Interconnector has been designated by the European Union as a Project of Common Interest (PCI) and has already secured substantial financial support through the Connecting Europe Facility (CEF).
Once completed, the project will provide a transmission capacity of up to 2 GW, creating the first electricity link between Cyprus and the continental European grid while establishing a new energy corridor in the Eastern Mediterranean.
Greece Reinforces Its Role as a Regional Energy Hub
The agreement with Meridiam is viewed as another step in Greece's strategy to become a regional energy hub connecting Southeast Europe and the Eastern Mediterranean.
Government officials say the project will contribute to the EU's clean-energy transition, improve energy diversification and create new opportunities for investment and economic growth across the region.
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