A Partnership for Long-Term Infrastructure Development
Great Sea Interconnector S.A. is jointly owned by Meridiam (66%) and the Independent Power Transmission Operator of Greece (IPTO, 34%), and was established to develop, finance, construct and operate the Greece–Cyprus electricity interconnection.
The partnership brings together international expertise in long-term infrastructure investment and extensive experience in electricity transmission to deliver a strategic European energy project.
Meridiam | 66%
Meridiam is an independent international investment and asset management firm specialising in the development, financing and long-term management of sustainable public infrastructure.
Headquartered in Paris, Meridiam works with public authorities, industrial partners and other stakeholders to deliver infrastructure projects that serve essential public needs.
As majority shareholder in Great Sea Interconnector S.A., Meridiam brings extensive experience in infrastructure investment, project development, financing and governance. This includes its role as lead developer and investor in NeuConnect, the landmark 1.4 GW electricity interconnector between the UK and Germany, which reached Financial Close in 2022.
Visit Meridiam’s website: https://www.meridiam.com
IPTO | 34%
The Independent Power Transmission Operator of Greece (IPTO, also known as ADMIE) is responsible for the operation, maintenance and development of Greece’s high-voltage electricity transmission system.
IPTO has deep expertise in the development and operation of major electricity transmission infrastructure, including submarine electricity interconnections serving the Greek islands.
As the original developer and strategic shareholder of GSI, IPTO contributes its technical expertise, knowledge of electricity transmission systems and project development experience.
IPTO will continue to play a central technical role in the development and subsequent operation of the interconnector.
Visit IPTO’s website: https://www.admie.gr/en
Project Development and Regulatory Responsibilities
IPTO currently serves as the designated Project Promoter for the Greece–Cyprus interconnection (PCI 2.6.2) under the European Union’s Projects of Common Interest framework.
GSI S.A. is the dedicated project company established to deliver the interconnection and is working closely with IPTO to advance the project’s development and implementation. It is expected to progressively assume the relevant development and operational responsibilities, subject to the necessary regulatory approvals and contractual arrangements.
IPTO will retain its role as Project Promoter for the separate Cyprus–Israel interconnection (PCI 2.6.1).
Corporate Governance
Great Sea Interconnector S.A. is governed by a Board of Directors appointed in accordance with the company’s corporate governance arrangements.
The Board oversees the strategic direction, governance and development of the company, supported by its management team and specialist technical and professional advisers.
Information updated: October 2026.