The Great Sea Interconnector (GSI) project, set to link Cyprus to Europe, has been confirmed as both technically and financially viable, with a projected cost of €2 billion and substantial EU support. Former finance minister Harris Georgiades emphasizes its importance for energy security and consumer savings, particularly as Cyprus faces growing energy demands amid shifting trends toward electric vehicles and renewable sources.
The Great Sea Interconnector, a vital energy project linking Cyprus to Crete, will advance if its financial viability is confirmed, as emphasized by Greek Prime Minister Kyriakos Mitsotakis during discussions at the Thessaloniki international fair. With crucial meetings ahead involving stakeholders like Greece’s power transmission operator Admie, the project’s success hinges on securing €125 million from Cyprus and addressing geopolitical risks to enhance Cyprus’s energy independence.
The European Commission is scrutinizing the Great Sea Interconnector, a power linkage project between Cyprus and Greece, for potential geopolitical risks and financial hurdles. There are debates over a proposed consumer levy to fund the project’s costs, while concerns about the region’s political landscape add complexity to the project’s success.
