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.
In February, Pissarides was also picked by Greek 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,” EuroAfrica Interconnector strategy council chairman and former foreign minister Ioannis Kasoulides said.
“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,” Kasoulides added.
The EuroAfrica Interconnector will be commissioned in December 2023 and through an investment of €1 billion, it 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.