Greek Prime Minister Kyriakos Mitsotakis welcomed an agreement for French asset management firm Meridiam to become the majority shareholder in the company behind the Great Sea Interconnector (GSI), saying the deal would give the Cyprus-Greece electricity link greater financial and technical strength.

In a social media post on Sunday, Mitsotakis said French cable manufacturer Nexans would undertake the challenging task of manufacturing and laying the cable, describing the agreement as “a strong vote of confidence” in Greece’s energy infrastructure.

He said the project would finally end Cyprus’ energy isolation by connecting the island to the Greek electricity grid, while strengthening Greece’s position as a key regional energy hub and paving the way for greater use of clean energy from renewable sources.

Turning to Greek-Turkish relations, the prime minister also referred to Turkey’s reaction to Greece’s Special Spatial Framework for Renewable Energy Sources and what he described as a revival of “unfounded claims concerning grey zones”.

“Our position is clear and remains unchanged: Greece acts in accordance with international law, exercises its rights and will not allow threats or unlawful claims to determine its decisions,” he said.

The policy establishes defined geographic boundaries for renewable investments, outlining specific areas designated for industrial development while defining exclusion zones to safeguard natural habitats.

The proposed framework significantly expands exclusion zones for wind, solar and storage projects, introduces new restrictions for islands and high-altitude areas, and closely links renewable permitting with tourism and environmental planning considerations.

The implementation of the new framework has prompted a reaction from Ankara, as it also encompasses the Aegean sea.

Turkish foreign ministry spokesman Oncu Keceli, according to Kathimerini, said the framework, like other similar Greek initiatives, “will have no legal consequence” for Turkey.

The Turkish side linked its position to what it described as the “interrelated Aegean issues” and referred to “geographical formations whose sovereignty has not been transferred to Greece by international agreements”.

Mitsotakis added that Greece consistently sought dialogue and good-neighbourly relations with Turkey, stressing, however, that “dialogue does not mean making concessions”.

“Nor does it mean that we will stop doing what we consider right and necessary for our country,” he added.

Meridiam took a majority share in the GSI on Wednesday August 5, buying Greece’s independent transmission system operator (Admie) out of its controlling stake.

Former Cypriot energy minister George Papanastasiou told theCyprus Mail that Meridiam’s taking of a controlling stake in the company will “of course help” the project’s future.

“It is very good news. This is a fund which is viable joining a project which was looking for financiers,” he said, before adding that it may also help the governments of Greece and Cyprus’ quest to secure funding from the European Investment Bank.