Meridiam, a French investor specializing in sustainable infrastructure, has announced its participation in a significant project linking the electricity networks of Greece, Cyprus, and Israel. The project, known as the Great Sea Interconnector, will establish a crucial energy bridge through a 1,208-km underwater cable capable of carrying up to 1,000 MW of electricity, with potential expansion to 2,000 MW. This 525-kV HVDC cable route marks a groundbreaking endeavor, set to become the world’s longest and deepest interconnector, spanning the Mediterranean seabed at depths exceeding 3,000 meters.
The agreement, formalized through a Memorandum of Understanding (MoU) with Greek transmission system operator IPTO, underscores Meridiam’s commitment to sustainable energy infrastructure across Europe and beyond. IPTO, as the driving force behind this EU-backed initiative, continues to engage with potential investors and financial institutions, including discussions with Greek commercial banks, the Bank of Cyprus, and the US government’s DFC for funding opportunities.
The Great Sea Interconnector project, recognized as a Project of Common Interest by the European Union, is slated to receive a significant EUR 657 million (USD 704.4 million) grant from the European Commission. With two sections expected to be operational between 2028 and 2029, the initiative promises to enhance regional energy security and promote renewable energy integration across the Eastern Mediterranean.
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