The European Commission has launched an investment platform under the Trans-Mediterranean Renewable Energy and Clean Tech Cooperation Initiative (T-MED) to connect renewable energy and clean technology projects with investors. EU support will include up to EUR 4.5 billion in guarantee capacity under the European Fund for Sustainable Development Plus to reduce investment risks and attract private capital. The platform will support renewable electricity and hydrogen production, electricity networks and storage, and clean technology manufacturing, including investment in interconnections across borders. Alongside financing, it will support improvements to regulatory frameworks and permitting procedures, as well as grid access and power purchase agreements, to address barriers to investment. T-MED, a flagship initiative of the Pact for the Mediterranean, aims to mobilize up to EUR 25 billion in investment by 2035. Existing projects illustrate its scope, including a EUR 1.6 billion program to modernize and expand Egypt’s electricity grid to integrate solar and wind generation. In Tunisia, the initiative is supporting two solar photovoltaic plants of 100 megawatts each and associated transmission infrastructure, with EU support of about EUR 92 million and EUR 80 million, respectively.
European Commission launches Mediterranean clean energy investment platform with up to EUR 4.5 billion in guarantee capacity
The European Commission has launched a Mediterranean renewable energy and clean technology investment platform, with EU support including up to EUR 4.5 billion in guarantee capacity to attract private capital. It will connect projects with investors and address barriers such as permitting and grid access. The broader Trans-Mediterranean Renewable Energy and Clean Tech Cooperation Initiative aims to mobilize up to EUR 25 billion in investment by 2035.