Newsroom
Cyprus will not be bypassed by the Great Sea Interconnector, Energy Minister Michalis Damianos insisted Sunday, responding to reports that alternative routes could leave the island out of the major electricity project.
“The GSI will definitely pass through Cyprus,” Damianos said, adding that both the Cyprus-Crete and Cyprus-Israel sections would proceed as planned.
His comments followed a Kathimerini report outlining concerns that Israel could eventually be connected directly to Crete and therefore Europe if Nicosia’s reservations over the project are not resolved.
Damianos said, "Everything is running normally,” although several important questions remain unanswered, including the project’s final price, how additional costs will be covered, and how much Cypriot households will ultimately pay.
The GSI is designed to connect Cyprus to the European electricity grid through a long undersea cable to Crete, with a separate section planned between Cyprus and Israel. Supporters say it would end Cyprus’ energy isolation and allow electricity to be imported or exported when needed.
For the average household, however, the project is not simply a cable somewhere beneath the Mediterranean. Part of its cost will eventually appear on electricity bills.
Damianos acknowledged that Cypriot consumers would contribute through their bills and said additional funding must be secured to prevent the burden from becoming too heavy.
The European Union has already committed €658 million to the project. A new due diligence study is expected to establish its true cost and determine whether the existing financing is enough.
If the final bill is significantly higher, Damianos said more investors and additional funding will be needed to keep the project financially viable.
The minister said the involvement of French infrastructure investor Meridiam is moving forward following an agreement between President Nikos Christodoulides and Greek Prime Minister Kyriakos Mitsotakis. The European Investment Bank has also requested more time before the next steps are taken.
Foreign investors have reportedly shown interest in both the wider GSI project and the planned Cyprus-Israel connection.
According to Damianos, the question is no longer whether the interconnector will be built, but how a way will be found to complete it.
His assurances are clear: Cyprus will be part of the cable. What remains less clear is how much it will cost—and how much of that cost will eventually land on the monthly electricity bill.
