Commission launches T-MED Investment Platform with up to €4.5 billion in EU guarantees
In the context of Trans-Mediterranean Renewable Energy and Clean Tech Cooperation Initiative (T-MED), the Commission has launched the T-MED Investment Platform with the aim to mobilise large-scale investment in renewable energy and clean technologies across the Mediterranean Sea.
The EU’s will provide EUR 4,5 billions in guarantee capacity under the European Fund for Sustainable Development Plus to reduce investment risks and attract private investment. The T-MED aims to mobilise up to EUR 25 billions in investments in renewable energy production, energy grids, interconnection and clean technologies. The overall aim of this initiative is to create employment and economic opportunity, while ensuring stability over the region and the diversification of renewable energy systems and supply chains.
The T-MED has already taken shape through different projects in Egypt, and Tunisia, including amongst other the first Green Ammonia project in North Africa, the modernisation of electricity grids and the building of solar and wind powerplants projects.
For more information check the Commission’s PR.