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Tuesday
11
Aug 2026
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Athens 31°C

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US to pay German energy company $1.2 billion to abandon offshore wind farm project

The Trump administration is prioritizing investment in natural gas over offshore wind energy

Greece–Cyprus power interconnection agreement signed: Mitsotakis says Meridiam’s investment is a strong vote of confidence in Greece

The French infrastructure giant acquires a majority stake in Great Sea Interconnector, strengthening the project's financial backing and accelerating the strategic electricity link between Greece and Cyprus

France strengthens Greece–Cyprus power link as Meridiam acquires majority stake

The agreement for Meridiam to acquire a majority stake in the Great Sea Interconnector will be signed in the presence of Prime Minister Kyriakos Mitsotakis. A separate tripartite agreement with Nexans for seabed surveys will also be signed

Low water levels on the Danube and Rhine force nuclear reactor shutdowns, raise blackout fears, and disrupt commercial transport

Romania and Hungary are on energy alert, car factories are suspending production, and authorities are urging citizens to cut electricity consumption. Meanwhile, Germany is facing disruptions to freight transport, while farmers in the Netherlands and Italy are struggling with worsening drought conditions

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