ECONOMY

Greece, Egypt to sign pact on power interconnector

greece-egypt-to-sign-pact-on-power-interconnector

Greece and Egypt will sign an agreement on the electricity interconnection between the two countries in Athens on Thursday, Athens-Macedonia news agency (AMNA) reports.

The deal, to be signed by Greek Environment and Energy Minister Costas Skrekas and Egyptian Electricity Minister Mohamed Shaker, marks the first interconnection between Europe and Africa in the Southeastern Mediterranean region, the report says.

The project will reportedly improve the region’s security of supply, increase cross-border energy exchange and allow the further development of renewable energy sources.