The apparent interest of US state fund DFC becoming a stakeholder in the Great Sea Interconnector, planned to link the power grids of Greece, Cyprus and Israel, would serve as a catalyst for the project as such a development would not only offer an additional funding source to the 1.9 billion-euro project but also boost its geopolitical clout as a result of the US state’s participation.

DFC, the Development Finance Corporation, only supports and promotes projects around the world that are in line with US interests, its recent funding to Onex for the acquisition of the Elefsina Shipyards, west of Athens, being an example.

Planned to stretch 1,200 km and offer 2-GW power transmission capacity, the Great Sea Interconnector, the most mature of interconnection projects envisaged between Europe and the Middle East, certainly meets the regional interests of the US.

This project promises to greatly contribute to energy supply security in the eastern Mediterranean, diversification of supply sources and, above all, development of infrastructure capable of connecting different continents.

DFC, it is being reported, could enter the Great Sea Interconnector as a 10 percent stakeholder. If the American state fund does become part of the project, it would join Greek power grid operator IPTO, the project promoter through its special purpose vehicle; the Cypriot State; Israel fund Aluma; and Abu Dhabi-based fund TAQA.