Neutral
Informational - no clear directional impact
Low Impact
Minor progress or informational
In December 2024, French infrastructure investment firm Meridiam SAS announced an agreement in principle to acquire a 49.9% stake in the €1.9 billion Great Sea Interconnector project company GSI, with IPTO/ADMIE retaining 50.1% majority control and an 11-member board (six IPTO, five Meridiam). However, the transaction has not formally completed. In March 2025 IPTO froze €70 million in payments to cable contractor Nexans, and in November 2025 the governments of Greece and Cyprus jointly decided to "update the economic and technical parameters" of the project to attract investors. As of April 2026, Cyprus and Greece have formally requested the European Investment Bank carry out a new techno-economic study, with an estimated ~€1 billion funding gap remaining. The Meridiam stake acquisition remains subject to the outcome of this broader financial restructuring. Greek Energy Minister Stavros Papastavrou has indicated that investment interest from American companies is also being explored.