MoU brings undersea electricity cable a step closer

Greece’s Independent Power Transmission Operator (Admie) said Monday it has signed a memorandum of understanding with a major asset manager interested in acquiring a direct stake in the company executing the Great Sea Interconnector – a mooted subsea electricity cable linking Cyprus to Greece.

Admie is the project promoter for the interconnector.

In a statement, Admie said Meridiam is a global investor and asset manager based in Paris specialising in developing, financing and...