The Great Sea Interconnector is progressing through the technical, regulatory and financing activities required to deliver a high-capacity electricity connection between Greece and Cyprus.
Project development involves detailed seabed surveys, submarine cable manufacturing, onshore infrastructure planning, regulatory coordination and the preparation of financing and implementation arrangements.
GSI S.A. is working closely with IPTO, Nexans and other project stakeholders to advance the technical, regulatory and financing activities required for the next phase of implementation.
Advancing the Greece–Cyprus Interconnection
The Great Sea Interconnector is progressing through the technical, regulatory and financing activities required to deliver a high-capacity electricity connection between Greece and Cyprus.
Project development involves detailed seabed surveys, submarine cable manufacturing, onshore infrastructure planning, regulatory coordination and the preparation of financing and implementation arrangements.
GSI S.A. is working closely with IPTO, Nexans and other project stakeholders to advance the technical, regulatory and financing activities required for the next phase of implementation.
Below are the principal milestones achieved in the development of the Greece–Cyprus interconnection.
Latest Project Milestones
August 2026 | Meridiam and IPTO establish a new investment partnership
Meridiam and IPTO sign an agreement for Meridiam’s majority participation in Great Sea Interconnector S.A., strengthening the project’s long-term investment and development framework.
August 2026 | New agreement for seabed survey activities
IPTO, GSI S.A. and Nexans sign an agreement covering seabed survey activities required for the implementation of the Greece–Cyprus interconnection.
From EuroAsia Interconnector to Great Sea Interconnector
The Great Sea Interconnector has its origins in the EuroAsia Interconnector initiative, launched in 2012 with the vision of establishing an electricity connection between Greece, Cyprus and Israel.
Over the following decade, the initiative progressed through feasibility studies, technical development, permitting and preparations for implementation.
In 2023, the Independent Power Transmission Operator of Greece (IPTO) assumed responsibility for advancing the project, which was renamed Great Sea Interconnector.
The original initiative forms part of the European Union’s Projects of Common Interest framework and comprises two distinct interconnections:
• PCI 2.6.2: Greece (Crete) to Cyprus
• PCI 2.6.1: Cyprus to Israel
Today, Great Sea Interconnector S.A. is the dedicated project company for the Greece–Cyprus interconnection (PCI 2.6.2), bringing together the partners’ expertise and resources to advance its development, financing and eventual delivery.
The separate Cyprus–Israel interconnection (PCI 2.6.1) continues to be developed independently by IPTO.
The Greece–Cyprus project represents a major step towards stronger electricity-market integration, energy security and renewable energy development in the EU, particularly in the Eastern Mediterranean.