The electricity interconnection cable with Cyprus on a new trajectory: Strong interest from American, Israeli, UAE investors

According to information, the investors come from the United States, Israel and the Emirates, having full political support from the governments of the three countries.

At the meeting between Mr. Mitsotakis and Christodoulides at the Maximos Mansion, the will of both sides to unblock a project with a broader geopolitical footprint that has gone through forty waves in the last year was confirmed. The decision to immediately update the economic and technical parameters is the key to removing the financial issues raised by the Cypriot side and the entry of investors, which gives new momentum to the project and “dissolves every different approach that existed in Cyprus”, as noted by a competent source. “The new data makes the added value of the interconnection projects that we are already promoting even more significant. They are projects that have a national dimension for both countries”, stated Mr. Mitsotakis.

The strategic importance of the US in the energy interconnection of the Mediterranean
The critical parameter is Washington’s interest in implementing interconnection projects in the Mediterranean, with the aim of energy flow to Europe in order to end its energy dependence on Russia, as well as the creation of a corridor from Asia that also concerns data and telecommunications. More important than the expansion of the base of participants that resolves any economic issues is the guarantee of security and circumvention of Turkish challenges in the field that American involvement in the project ensures.

Greece a critical player on the energy and geopolitical map

The intense developments of recent days, starting with the P-TEC conference held at Zappeion last week, confirm the support of the United States for the major projects in which Greece is involved, which highlight it as a critical factor in shaping both the energy and geopolitical map of the next decade. The preparatory work for the involvement of investors in the electrical interconnection cable has already been done and the will to proceed immediately with the procedures was confirmed during the revival of the 3+1 scheme during the meeting of the Energy Ministers of Greece, Cyprus, Israel and the United States on Friday in Athens. The United States is the one that is accelerating, with the U.S. International Development Finance Corporation (DFC) considering its participation as an investment and strategic partner. This move comes, according to information, with the stamp of an independent, reputable international consultant who will re-evaluate the project financially.

Greece and Cyprus join forces to strengthen energy interconnections with the EU

While Kyriakos Mitsotakis made the relevant announcements in Athens, accompanied by Nikos Christodoulides, in Brussels the Energy Ministers of the two countries, Stavros Papastavrou and Giorgos Papanastasiou, had a meeting with the competent European Commissioner, whom they informed about the developments. The Commission has invested 600 million euros in the project and classifies it among the high-priority interconnection projects. "We highlighted the need for Europe to move quickly, to strengthen interconnection projects, to further reduce the price of energy for households and businesses," said Mr. Papastavrou. Mr. Papanastasiou also described as a priority of the Cyprus presidency of the EU in the first half of 2026, energy infrastructure projects, such as the electrical interconnection cable.