Expert Urges Reality Check on Great Sea Interconnector Amid Technical and Governance Uncertainties

After French asset manager Meridiam bought 66 % of the Great Sea Interconnector (GSI) shares, energy researcher Constantinos Hadjistassou says the project still faces major unknowns. The shareholding structure remains unclear, with Admie likely still the dominant player, and the European Investment Bank’s new feasibility study is pending. Technical hurdles include laying a cable at depths of up to 3,000 m—well beyond the industry norm of 2,100 m—where only a few vessels exist, and the route’s geo‑hazards (trenches, volcanoes, turbidity currents) have not been mapped. Greek wind capacity is insufficient to supply Cyprus at peak night demand, and the EU’s €657 million support has not yet been fully disbursed, with only €15 million spent on pre‑FEED seabed mapping. The European Public Prosecutor’s Office has opened an investigation into the project’s financing, and Cyprus remains poised to pay only after a Navtex clearance, while considering whether to take an equity stake to share construction costs and future profits.