Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
In 2024, an agreement was signed specifying that Cyprus must pay €25 million per year to the project promoter, Greece’s Independent Power Transmission Operator (IPTO/ADMIE), for the Great Sea Interconnector. This arrangement secures an annual revenue stream for the promoter, with the first payment expected in 2025 if the project proceeds, and is central to the financial arrangements between Greece and Cyprus for the subsea cable.