Nicosia, September 10, 2020 – Sir Christopher Pissarides, Nobel prize laureate and Professor of Economics at the London School of Economics, has been appointed Chairman of the Economic Council of EuroAfrica Interconnector, the Egypt-Cyprus electricity interconnector.
Prof. Pissarides, universally acknowledged for his contribution in economics, in February 2020 was picked by Prime Minister Kyriakos Mitsotakis to chair the committee tasked with the long-term growth strategy for Greece.
“It is a great honour for us that we welcome a distinguished economist and highly respected academic such as Dr. Pissarides, contributing his knowledge and extensive wisdom,” said EuroAfrica Interconnector Strategy Council Chairman and former Foreign Minister of the Republic of Cyprus Dr. Ioannis Kasoulides.
“We are building bridges between continents, as Egypt’s electricity grid will be connected to Europe, through Cyprus, and Egypt becomes a major energy hub for the Arab World and Africa,” Dr. Kasoulides added.
The EuroAfrica Interconnector will be commissioned in December 2023 and through an investment of €1 bln will contribute significant social and economic benefits for all the countries involved. With an initial capacity of 1,000 MW in Stage 1, the interconnector will also contribute to the monetisation of Egypt’s vast energy resources, mainly from renewables and the recent discoveries of hydrocarbon deposits.
We are honoured that Nobel prize winner Prof. Pissarides is joining EuroAfrica Interconnector and will be playing a key role in the vision and implementation of the EuroAfrica Interconnector Egypt-Cyprus electricity interconnector.
The EuroAfrica Interconnector is the ‘electricity highway’ which interconnects Egypt with Europe, through Cyprus, and creates an energy hub for Africa and the Arab world.