French investment group Meridiam has agreed to become the majority shareholder in Great Sea Interconnector (GSI), the company developing a subsea electricity link between Greece and Greek Cyprus that faces objections from Ankara over its planned route.
The agreement was signed in Athens on Aug. 5 at a ceremony attended by Greek Prime Minister Kyriakos Mitsotakis.
The project is planned to later extend to Israel.
Greek reports presented Meridiam’s entry as bringing greater French backing to the project and said Athens expects the investment to strengthen its political position amid Ankara’s objections.
Türkiye says parts of the proposed route fall within its continental shelf and maintains that survey and cable-laying activities in those areas require prior coordination with Ankara.
Turkish authorities have repeatedly said projects affecting the country’s maritime jurisdiction must respect Türkiye’s rights and interests.
