Great Sea Interconnector Advances Cyprus-Israel Investment Process

by News Editor

August 13, 2026

The Great Sea Interconnector (GSI) has taken another step forward after Greece’s Independent Power Transmission Operator (Admie) submitted an investment request for the Cyprus-Israel electricity link to the energy regulators of both countries.

Marking the next stage of the project under the European Union’s Trans-European Networks for Energy (TEN-E) framework, the application comes amid renewed efforts to advance the strategic connection between Greece, Cyprus and Israel. French infrastructure investment group Meridiam recently became the majority shareholder in the GSI project company, while Greek and Israeli officials have also stepped up discussions on the Cyprus-Israel section.

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Investment Framework Moves To Regulatory Review

Admie said the request follows completion of the required cost-benefit analysis (CBA) and cross-border cost allocation proposal (CBCA). Authorities and grid operators in Cyprus and Israel were consulted during the studies, which also incorporated updated forecasts for electricity demand, renewable energy development and future grid requirements.

According to the findings, the Cyprus-Israel interconnection remains economically viable under all scenarios examined. The project is also expected to strengthen electricity supply security, support renewable energy integration and connect the eastern Mediterranean electricity market more closely with the wider European grid.

Regulators in Cyprus and Israel will now formally assess the investment request and jointly determine how the project’s costs will be allocated between the two countries and recovered through regulated revenues.

Following approval of the investment framework, the project can move towards a final investment decision, allowing financing arrangements to proceed. Admie also plans to attract additional investors to the Cyprus-Israel section, following the model used for the Greece-Cyprus leg.

1,000MW Link To Connect Cyprus And Israel

Designated by the EU as a Project of Common Interest, GSI will have a transmission capacity of 1,000MW using a 500kV high-voltage direct current system. A planned submarine cable between Cyprus and Israel will stretch approximately 324 kilometres at depths of up to 2,400 metres, allowing electricity to flow in both directions.

Last week, Energy Minister Michael Damianos welcomed Meridiam’s entry into the project and said Cyprus would await the European Investment Bank’s due diligence assessment before considering whether the Republic should become a shareholder.

Separately, a bipartisan group of US lawmakers has urged Secretary of State Marco Rubio and US International Development Finance Corporation chief executive Ben Black to prioritise GSI, citing its importance for regional energy security and cooperation.

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Retail’s AI Push Faces A Cybersecurity And Regulatory Reality Check

by THEFUTURE.TEAM

October 19, 2026

Artificial intelligence is becoming a strategic priority for retailers, with 80% of retail leaders planning to increase investment in the technology, according to EY’s latest CEO Outlook Survey. However, growing concerns over cybersecurity, customer privacy and regulation could complicate adoption across an industry already facing inflation, geopolitical uncertainty and changing consumer expectations.

Confidence In AI Comes With Risks

The survey found that 80% of retail leaders are confident in their ability to expand the responsible use of AI and customer data. Retailers are increasingly applying the technology to demand forecasting, inventory management, customer service and personalised marketing, seeking to improve efficiency and respond more quickly to market changes.

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Yet adoption brings new vulnerabilities. EY found that 24% of retail leaders identified cybersecurity and data privacy as a leading business risk for the year ahead. Retailers manage sensitive customer information, payment systems and complex supply chains, making effective security and governance essential as AI becomes more deeply embedded in their operations.

The World Economic Forum’s Global Cybersecurity Outlook 2026 highlights the wider challenge: 87% of organisations reported rising cyber risks linked to AI vulnerabilities, while 94% expected malicious AI to have a significant impact on cybersecurity in 2026.

Regulation Will Shape AI Adoption

Regulatory frameworks are also influencing how quickly retailers can expand their use of AI. The European Union’s AI Act, China’s state-led governance model and measures introduced by individual US states are shaping the rules around the technology.

For retailers, compliance is becoming a strategic consideration, particularly for customer-facing applications that use personal data to personalise offers, automate interactions or analyse consumer behaviour. Regulatory missteps could carry significant costs in a sector where customer trust is critical.

EY Outlines Four Possible Futures

EY recommends that retailers plan for multiple outcomes rather than assume the current investment boom will continue uninterrupted. Its analysis draws on a four-scenario framework developed by Jim Dator of the University of Hawaii.

One scenario envisages constrained AI adoption as economic pressures, regulation, cyberattacks, legacy systems and poor data quality limit progress. Retailers in this environment may prioritise lower-risk back-office applications, such as finance, procurement, inventory and logistics, while customer-facing tools face resistance.

A second scenario anticipates continued growth, with sustained investment and widespread adoption. A third envisages deeper economic and social transformation as technology reshapes business operations. The fourth considers systemic breakdown, in which a small number of technology platforms control access to AI models and charge premium prices, potentially making advanced capabilities less accessible even to large retailers.

Governance Will Determine Competitive Advantage

EY’s findings suggest that investment alone will not determine which retailers benefit most from AI. Companies will also need robust cybersecurity, effective governance and strategies that can adapt to different economic, technological and regulatory conditions.

For a sector operating on tight margins, the challenge is to turn AI investment into lasting business value while managing the risks that come with greater dependence on the technology.

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