Fresh Push for Greece-Cyprus Power Link as US Eyes Role in Eastern Mediterranean Energy Network
The long-stalled Greece-Cyprus electricity interconnection project, known as the Great Sea Interconnector (GSI) , is gaining new momentum amid growing US involvement in the Eastern Mediterranean energy landscape. According to Kathimerini , talks are under way to attract new investors to the project for both financial and geopolitical reasons. Amo
ng those reportedly in discussions are US investors , possibly through the US International Development Finance Corporation (DFC) —an agency that finances global infrastructure projects to counterbalance Chinese influence. Washington’s interest in the initiative aligns with its broader push to support energy and transport corridors linked to the India-Middle East-Europe Corridor (IMEC) . The DFC has already invested $125 million in Greece’s Elefsis Shipyards and plans further financing for port and infrastructure projects. Greece, in turn, seeks to position itself as a key entry point of IMEC into Europe . Momentum around the GSI was evident in Brussels on Wednesday , where Greek Energy Minister Stavros Papastavrou and Cypriot Energy Minister Giorgos Papanastasiou met with EU Energy Commissioner Dan Jorgensen . Following the meeting, Papastavrou said both sides emphasized the need to update the project’s financial and technical data , echoing recent statements from Greek Prime Minister Kyriakos Mitsotakis and Cypriot President Nikos Christodoulides . Mitsotakis, after meeting Christodoulides in Athens, highlighted “ new conditions ” that enhance the strategic importance of connectivity projects. “We are moving toward an immediate update of the project’s techno-economic parameters, so it can be reinforced by the entry of new, strong investors,” he said. Both Athens and Nicosia have asked the European Commission to help facilitate the participation of third-party investors in the GSI. This could require new studies assessing the project’s economic viability and technical design , potentially delaying implementation until a revised investment model is finalized. The Commission is expected to stay involved, as the GSI is listed as a Project of Common Interest (PCI) —a designation reserved for infrastructure with major cross-border and geopolitical significance. A key next step will be a high-level meeting in Washington bringing together the energy ministers of Greece, Cyprus, Israel, and the United States . The talks are expected to focus on integrating the GSI into the IMEC framework and exploring potential US participation in the landmark interconnection.
