Greece's power grid operator ADMIE has filed a formal investment request with the regulatory authorities of Cyprus and I...

Greece's power grid operator ADMIE has filed a formal investment request with the regulatory authorities of Cyprus and Israel, pushing the Cyprus-Israel leg of the Great Sea Interconnector (GSI) into its next phase of development. The filing is a required step under EU energy framework rules before regulators in both countries can jointly decide how to split the project's costs. The move comes just one week after ADMIE signed an agreement with French investment group Meridiam at the Maximos Mansion in Athens, bringing Meridiam in as the majority shareholder in the Great Sea Interconnector company. Greek Energy Minister Stavros Papastauros also held a phone call with his Israeli counterpart Eli Cohen to advance the Cyprus-Israel connection. The GSI is an EU Project of Common Interest designed to carry 1,000 MW of electricity through a 500 kV high-voltage direct current (HVDC) bipolar cable system. The Cyprus-Israel segment alone will run approximately 324 kilometers offshore, at depths between 2,200 and 2,400 meters, connecting a converter station at Kofinου in Cyprus with one near Hadera in Israel. Cost-benefit studies completed ahead of the investment request confirmed the project is economically viable across all scenarios analyzed. The studies involved extensive consultation with energy ministries, Cyprus's Transmission System Operator, and Israel's grid operator NOGA, factoring in projected electricity demand, renewable energy growth, and infrastructure needs. Once Cyprus and Israel's regulators reach a joint decision on cost allocation, ADMIE will move toward a Final Investment Decision, which formally triggers project financing. ADMIE says it plans to attract additional investors for the Cyprus-Israel leg, mirroring the Meridiam deal structure used for the Greece-Cyprus segment. The full GSI will connect Greece, Cyprus, and Israel, integrating Eastern Mediterranean electricity markets into the European transmission grid and strengthening energy security across all three countries. #GreatSeaInterconnector #EnergyNews #Cyprus