The bid to link the power grids of Greece and Cyprus received a new boost Wednesday with French investment group Meridiam joining the Great Sea Interconnector project as a majority stakeholder, in an agreement with a strong financial and geopolitical footprint.
The deal being signed at the Greek prime minister’s Athens office, in the presence of Kyriakos Mitsotakis, opens a new chapter in one of the biggest and most complex energy projects in the eastern Mediterranean Sea.
Mitsotakis hailed the “strategic” project which would boost Cyprus’s energy independence.
Meridiam is bringing not only capital but also its substantial experience in major international projects, while its presence substantially boosts the French interest in the GSI project, in which another French company, Nexans, is already involved.
Greece’s ADMIE, GSI and Nexans will also sign a three-party deal to carry out surveys of the seabed, opening the way for one of the most crucial – and geopolitically sensitive – stages of the project.
