Deal signed bringing Meridiam into Greece-Cyprus Great Sea Interconnector

Economy electricityenergyGreat Sea InterconnectorGreeceTop News Deal signed bringing Meridiam into Greece-Cyprus Great Sea Interconnector Deal Signed Bringing Meridiam Into Great Sea Interconnector Relevant News Deal signed bringing Meridiam into Greece-Cyprus Great Sea Interconnector 5 August 2026 Two parked cars damaged by fire on Nicosia avenue 5 August 2026 Fire near Marathounta in the Paphos district now contained 5 August 2026 Newsroom 5 August 2026 FacebookXWhatsAppEmailPrintViber Greek Prime Minister Kyriakos Mitsotakis described the agreement bringing French investment group Meridiam in as majority shareholder of Great Sea Interconnector (GSI) as being of strategic importance for energy stability in the region. The agreement, under which GSI is set to develop the Greece-Cyprus electricity interconnection, was signed today at the Maximos Mansion in Mitsotakis’s presence. Mitsotakis said the deal will put an end to Cyprus’s isolation from the European electricity grid, and stressed the importance of Greece demonstrating it can attract investors. He also pledged to take the initiatives needed to see the project completed successfully. Alongside the Meridiam agreement, a tripartite agreement was also signed between Greece’s Independent Power Transmission Operator (IPTO), GSI and French company Nexans covering seabed survey work for the project. Significance for the Greece-Cyprus interconnection Greek government sources described Meridiam’s entry as a particularly significant development for the project, saying the French involvement strengthens the conditions and credibility needed to accelerate implementation. According to the Athens Macedonian News Agency (AMNA), GSI was designed from the outset as the special purpose vehicle (SPV) for developing the project with the participation of strategic investors, and the Meridiam agreement represents the realisation of that plan, building on IPTO’s successful capital increase to strengthen the project’s financing capacity. IPTO remains a strategic shareholder and key partner with statutory minority rights, retains technical leadership of the project, and will be responsible for operating the interconnection once complete, according to AMNA. Meridiam’s majority stake strengthens the project’s capital base, adds technical expertise and boosts its implementation capacity, the agency reported. Greek government sources said the agreement represents a strong vote of confidence in Greece’s energy sector and in IPTO as the project’s implementing body, adding that sources said they are joining forces and securing the project’s implementation. The EIB is separately in the process of approving financing for the project, AMNA reported. In parallel, the Cyprus-Israel electricity interconnection is progressing, with IPTO, as implementing body, having completed a cost-benefit study it will send to Cypriot and Israeli regulators in the coming days. Meridiam’s profile Meridiam is a leading international investor, developer and manager of infrastructure projects. Founded in 2005 and headquartered in Paris, it has a strong presence in Europe, the United States and Africa, specialising in critical public infrastructure that it develops, finances, builds and manages over the long term in close cooperation with governments and regulators. Its portfolio includes more than 130 projects under development, construction or in operation across Europe, North America, the Middle East and Africa, representing roughly €100 billion in total mobilised investment. Meridiam’s funding comes from long-term institutional investors, including European and international pension funds, insurers, sovereign wealth funds and public development banks. The European Investment Bank has held a stake in Meridiam since 2015 and finances its projects, alongside the European Bank for Reconstruction and Development, the World Bank and other public financial institutions. The firm operates under France’s société à mission legal status, which requires it to enshrine specific public-interest goals in its statutes and have its performance against them certified by an independent body. Its projects are aligned with the UN Sustainable Development Goals and are estimated to have created more than 260,000 direct and indirect jobs. Meridiam’s projects include NeuConnect, a 1.4GW, 725km undersea high-voltage direct current interconnection between the UK and Germany worth €2.8 billion, currently under construction; the 302km Sud Europe Atlantique high-speed rail line in France, a €7.7 billion project running to 2061; a 30-year concession for desalination and water transport from Aqaba to Amman in Jordan, worth around $6 billion; the 2022 acquisition of global water and waste group Suez, in which Meridiam remains a key shareholder; a 35-year concession for Sofia Airport in Bulgaria, with committed investment of at least €624 million; the 19.5km, 38-stop Florence tram network, serving more than 34 million passengers a year; and the research centre of the University of Montreal Hospital Centre in Canada, developed through a long-term partnership with the Quebec government. 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