Energy: New investor, new investment application: Restart for power cables in the Mediterranean
Investor Meridiam is joining the long-planned electricity connection from Europe to Israel via Cyprus, GSI. There is also a new investment application. However, risks remain.
The Great Sea Interconnector project, a planned undersea power cable linking Greece, Cyprus, and Israel, is moving forward after a long delay. The Greek transmission network operator IPTO has submitted an investment application to regulators in Cyprus and Israel for the second section of the project, between Cyprus and Israel. French infrastructure investor Meridiam has acquired a 66% stake in the project, paying €3.05 million for the shares, and the European Union has offered €658 million in funding.
The project, valued at nearly €2 billion, has been classified as a Project of Common Interest by the EU.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
