The European Commission launched the T-MED Investment Platform Monday aiming to mobilise large-scale investment in renewable energy and clean technologies across the Mediterranean.
The platform was presented by Commissioner for the Mediterranean Dubravka Šuica during a stakeholder event in Brussels bringing together European and international financial institutions, private investors and project promoters to identify investment opportunities and projects that could benefit from EU support.
EU support will include up to €4.5 billion in guarantee capacity under the European Fund for Sustainable Development Plus (EFSD+), helping reduce investment risks, attract private capital and accelerate the implementation of viable renewable energy and clean technology projects across the region. The platform will facilitate cooperation between financial institutions, investors and project promoters, matching promising projects with potential sources of financing and helping turn investment opportunities into concrete projects.
The Mediterranean holds considerable untapped renewable energy potential, says the Commission.”By bringing investors and project promoters together, with the support of the EU, the Platform will help turn promising projects into concrete investments, creating jobs and supporting growth,” said Commissioner Šuica.
The T-MED Investment Platform aims to unlock the potential by supporting investments in renewable electricity generation, renewable hydrogen, electricity transmission and distribution networks, energy storage, cross-border interconnections and clean technology manufacturing.
Beyond financing, the platform will support efforts to improve regulatory frameworks, permitting procedures, grid access and power purchase agreements, while promoting skills development and local clean technology value chains. By addressing these barriers to investment, T-MED will help strengthen energy security, deepen economic cooperation and create new opportunities for sustainable growth across the Mediterranean.
Examples of T-MED projects include:
- the modernisation and expansion of the national electricity grid in Egypt, with a total investment value of €1.6 billion. The programme includes the construction of state-of-the-art substations and the installation of advanced transmission lines to integrate solar and wind power generated in the Red Sea and Gulf of Suez regions into the national grid.
- the first Green Ammonia project in North Africa, a €575 million operation in Ain Sokhna in Egypt, with a European electrolyser at its heart. The ammonia produced is exported to the EU market.
- The Niat and Rasgha Wind Projects in Egypt will bring 500 MW of new onshore wind to the Gulf of Suez, strengthening the renewable base for Egypt’s future hydrogen production through European wind technology.
- the construction of two 100 MW solar photovoltaic plants and their associated transmission infrastructure in Tunisia, amounting to total EU support of about €92 million and €80 million respectively.
