The European Union should take an active role in addressing the challenges of the Great Sea Interconnector (GSI) electricity interconnection project, Cyprus' Minister of Energy, George Papanastasiou, told the Cyprus News Agency (CNA) on Friday.

Speaking on the technical, financial, and geopolitical challenges surrounding the project, Papanastasiou noted that while the specialised company overseeing the project appears to have solutions for the technical aspects, the financial and geopolitical challenges require intervention from the project’s implementing body, ADMIE (Independent Power Transmission Operator), and the EU, since GSI is a project of common interest of the European Commission.

The Minister also referred to interventions made by himself and his Greek counterpart during the recent Energy Ministers’ Council in Brussels. He stressed that securing investors for the project remains a key concern due to the economic and geopolitical factors.

"ADMIE, as the implementing body, along with the EU, has the responsibility to find solutions, and that is currently in progress," he said.

During discussions at the Council, Papanastasiou stressed the importance of managing infrastructure projects at a European level to mitigate geopolitical risks. Specifically, he highlighted the GSI as a European project that requires coordinated handling by the EU and the involved countries. "The EU must work alongside the countries concerned to address any financial and geopolitical challenges," he stressed.

Additionally, Greek Minister of Environment and Energy, Stavros Papastavrou, reaffirmed Greece’s commitment to moving forward and complete the project. He also called on the EU to demonstrate concrete support for the initiative.

Papanastasiou also held talks with EU Energy Commissioner Dan Jørgensen, providing a comprehensive overview of the project’s progress and the challenges it faces. He also discussed the Vasilikos energy project.

Meanwhile, the Minister referred to the meeting held on Thursday between the regulatory authorities of Cyprus (RAEK) and Greece (RAAEY) with ADMIE, noting that according to information from RAEK, the discussions were highly productive, with both regulators aligned in their support for the GSI.

CNA/TNE/EPH/2025

ENDS, CYPRUS NEWS AGENCY