Brussels – With the T-MED investment platform, “our ambition is clear: to make clean energy a driver of shared prosperity, competitiveness, and security across the Mediterranean and in Europe.” This was stated today (26 October) by the European Commissioner for the Mediterranean, Dubravka Šuica, on the occasion of the launch of the T-MED Investment Platform. The initiative aims to mobilise large-scale investment in the renewable energy and clean technology sectors as part of the Mediterranean Pact, an EU strategy to strengthen the Union’s relations with partners in the region. The platform was presented by the Commissioner during an event in Brussels that brought together European and international financial institutions, private investors and project developers, with the aim of identifying investment opportunities and initiatives that could benefit from the Commission’s support. “It will help turn promising projects into concrete investments, creating jobs and supporting growth,” emphasised Šuica.
Support from the Berlaymont Building will comprise up to €4.5 billion in guarantee capacity under the European Fund for Sustainable Development, helping to reduce investment risks, attract private capital, and accelerate the delivery of sustainable projects in the fields of renewables and clean technologies. In addition to financing, the platform will support measures aimed at improving regulatory frameworks, authorisation procedures, grid access and power purchase agreements, while promoting skills development and the creation of local supply chains linked to clean technologies. By tackling these barriers to investment, T-MED will help to strengthen energy security, deepen economic cooperation and create new opportunities for sustainable growth across the Mediterranean.
Among T-MED’s success stories is a project in Egypt that is enabling the modernisation and expansion of the national electricity grid, with a total investment of €1.6 billion. The programme involves the installation of advanced transmission lines, designed to integrate solar and wind energy generated in the Red Sea and Gulf of Suez regions into the national grid. In Tunisia, T-MED is supporting the construction of two solar photovoltaic plants, each with a capacity of 100 MW, together with the associated transmission infrastructure. In this case, the total EU support amounts to approximately €92 million and €80 million, respectively.
As highlighted in a press release, by 2035, T-MED aims to mobilise up to €25 billion in investment for renewable energy generation, electricity grids, interconnections and clean technologies, while also planning to contribute to the training of 10,000 workers.
English version by the Translation Service of Withub
