Cyprus and Greece request European Investment Bank study for Great Sea Interconnector

The governments of Cyprus and Greece have submitted a joint letter to the European Investment Bank (EIB) requesting a due diligence study for the Great Sea Interconnector project. This electrical interconnection project aims to link Greece, Cyprus, and Israel. The request was signed by Cypriot Energy Minister Michalis Damianou and his Greek counterpart, Stavros Papastavrou. This action follows a decision made by President Nikos Christodoulides and Prime Minister Kyriakos Mitsotakis during their meeting in Athens last November. The project is considered of strategic importance and is already included in the National Energy and Climate Plans of both nations. The venture has previously secured €658 million in funding from the European Commission. The EIB, which has prior knowledge of the project, is expected to evaluate its viability, market impact, and technical stability to determine potential financing.