Prime Minister Kyriakos Mitsotakis has called a meeting on Sunday afternoon regarding the Great Sea Interconnector (GSI), with the participation of the leadership of the Environment and Energy Ministry and ADMIE, Greece’s Independent Power Transmission Operator. 

Earlier Sunday, a new dispute emerged over the long-delayed GSI project, intended to link the electrical grids of Greece, Cyprus, and potentially Israel.

According to the Cypriot newspaper Phileleftheros, ADMIE, Greece’s Independent Power Transmission Operator, filed an objection with RAEK, the Cyprus Energy Regulatory Authority, challenging its decision to approve the recovery of €82 million, with the right to collect €25 million for January–December 2025.

ADMIE, the project’s promoter, reportedly seeks recognition to recover €251 million for expenses incurred so far, before the project is completed.

However, in response, ADMIE issued a statement that denied the Phileleftheros report, stressing that it is seeking only “the agreed first installment of €25 million for 2025, and nothing more concerning the project’s investment expenses.”

The Greek operator also rejected what it described as “arbitrary and unverified claims” about an immediate demand for €251 million, clarifying that this amount forms part of the project’s total budget of €1.9 billion and will be recovered over a 35-year amortization period, as determined by regulatory provisions.

When asked about the report, Cypriot President Nikos Christodoulides strongly criticized ADMIE. “If the head of ADMIE thinks that the Cypriot government can be blackmailed with letters or paid announcements, he obviously does not know who he is dealing with,” he said. “I want to point out that there is full understanding and a framework agreement regarding this specific project between the Greek and Cypriot governments. Recently in New York, we agreed with the Greek prime minister on how to proceed in a very specific manner, and, moreover, a relevant announcement was issued.”

Asked about the Greek government’s role as a major ADMIE shareholder, Christodoulides said: “It is not the Greek government that decides on the letters ADMIE sends, because there is a framework with the Greek government on how the project proceeds, regarding each party’s obligations, and there is also the recent joint statement by the Greek prime minister and myself, following our meeting in New York.”

Earlier this week, Christodoulides said Cyprus will commit fresh funding over the next two years to the GSI.

Source: Ekathimerini.com