Mediterranean Cable Project Under Investigation: Unraveling the EU's $2 Billion Power Link
European prosecutors are investigating potential criminal offences connected to a $2 billion subsea electric cable project linking Europe and the eastern Mediterranean, involving Cyprus and Greece. The project's viability and costs have raised questions, prompting an inquiry by the European Public Prosecutor's Office.
The ambitious $2 billion EU-financed subsea electric cable project, designed to bridge Europe to the eastern Mediterranean, is under investigation by European prosecutors. Multiple delays and concerns about the project's viability have led Cyprus and its president to seek transparency in its financial logistics.
Greek power grid operator IPTO, tasked with building the Great Sea Interconnector, remains committed to connecting European and Cypriot transmission networks, with an extension planned to Israel. Despite these assurances, financial and geopolitical issues have complicated the project's progress.
The European Public Prosecutor's Office confirmed an ongoing investigation into potential criminal offences, though details remain scarce to protect the probe's integrity. Greece maintains it has not been alerted to any advisory from the investigation. This project promises to create the 'world's longest and deepest' high-voltage cable upon completion.
(With inputs from agencies.)
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