Great Sea Interconnector: Project timeline under revision

Nexans, the manufacturer of the Great Sea Interconnector (GSI), has reiterated its commitment to the implementation of the Greece-Cyprus-Israel electricity interconnection project, but is modifying the timetable for its implementation, which was planned for late 2029 or early 2030.

As stated in its announcement, Nexans wishes to provide further clarifications regarding the execution of the contract for the project, in accordance with its contractual obligations and in accordance with the milestones that have been set since 2023.

However, it underlined that a rescheduling of activities is currently underway.

Therefore, Nexans is working closely with its client to evaluate the best available options for a revised execution timetable.

Although these changes, as the company pointed out, will affect the project delivery date, they will not affect Nexans’ financial forecasts for 2028, thanks to the group’s large order book and the precautionary actions to offset any potential impact from 2026.

2026 forecasts on February 19

According to sources, Nexans will publish its 2026 forecasts alongside its full-year 2025 results on February 19, 2026.

It also underlined that it remains committed to executing the project together with its client.

“The GSI project is ongoing and we remain fully committed to supporting our customer in the completion of this critical infrastructure,” noted Nexans CEO Julien Hueber, adding that “we are managing this situation with strong execution discipline. The measures we have been taking since 2026 in response to external developments allow us to remain firmly on track with regard to our financial performance and our forecasts for 2028.”