Greece’s Independent Power Transmission Operator (ADMIE) has submitted an investment approval application, under the European Union’s TEN-E regulation, for the Great Sea Interconnector (GSI) project, which envisages an undersea electricity cable link between the power grids of Cyprus, Greece and Israel.
Local media reported that ADMIE had submitted the application to the Cypriot Energy Regulatory Authority (CERA) and Israel’s Energy Regulatory Authority, describing the move as a critical development in accelerating the electricity interconnection between south Cyprus and Israel.
The report noted that the application came shortly after an agreement signed last week between ADMIE and the French investment group Meridiam, under which Meridiam is to become a majority shareholder in the GSI company.
It also recalled that the project’s progress had been discussed in a phone call between Greek Energy Minister Stavros Papastavrou and his Israeli counterpart, Eli Cohen.
In its statement, ADMIE stressed that the project carried strategic and geopolitical significance for Greece, Cyprus, Israel and Europe.
