Greece-based Independent Power Transmission Operator (Admie), the project promoter of the Great Sea Interconnector, has suspended payments to French company Nexans, which is responsible for manufacturing and installing the submarine cable for connecting Greece and Cyprus to the grid. The decision was taken due to the uncertainty looming over the project, mainly caused by geopolitical […]
Admie, Greece's power transmission operator, has suspended a €70 million payment to Nexans for the Great Sea Interconnector project, citing uncertainty due to Turkish interference disrupting seabed surveys. The suspension, agreed with Nexans, aims to avoid project delays and liability. The buoy-laying vessel has departed for Italy, and if the project stalls, Admie may need to reimburse the EU for allocated funds. The project, approved with EU funding, aims to end Cyprus's energy isolation.
