The European Commission has launched the T-MED Investment Platform to mobilise investment in renewable energy and clean technologies across the Mediterranean, with up to €4.5 billion in guarantee capacity.
Backed through the European Fund for Sustainable Development Plus, the platform is designed to reduce investment risk, attract private capital and connect project developers with potential financing. It will support renewable power, hydrogen, electricity networks, storage, cross-border interconnections and clean technology manufacturing.
Egypt is the largest early project pipeline. T-MED is supporting a €1.6 billion programme to expand and modernise the country’s electricity grid, including substations and transmission lines linking renewable generation from the Red Sea and Gulf of Suez regions.
Other Egyptian projects include a €575 million green ammonia facility in Ain Sokhna, a hybrid solar PV project valued at about €430 million and 500 MW of planned onshore wind capacity through the Niat and Rasgha projects.
In Tunisia, the platform is supporting two 100 MW solar PV plants and related transmission infrastructure, with EU support of about €92 million and €80 million. By 2035, T-MED aims to mobilise up to €25 billion and support training for up to 10,000 workers, according to the announcement.
Source: Green Building Africa
