The European Public Prosecutor’s Office (EPPO) is currently investigating the Greek power grid operator IPTO over the construction of a subsea electric cable between Cyprus and the rest of Europe.
The revelation was first made by Cypriot President Nikos Christodoulides on Wednesday, with the EPPO later confirming that the inquiry is underway, but without releasing any further details about its scope, length, or findings.
The Greek government, which has a minority interest in IPTO, said that they were not made aware of the investigation.
The project, backed by €1.9 billion in European funds, is for the construction of the so-called Great Sea Interconnector cable to link European and Cypriot transmission networks, with plans for a further extension to Israel. The cable is expected to become, upon completion, the longest high-voltage cable at 1,240 km and also the deepest at 3,000 metres.
IPTO entered the project in 2023, replacing a local firm, at a time when the project had already faced numerous delays and escalating costs. The project has still been hit with delays, and the Cypriot government has been requesting clarifications on whether the project remains feasible.
