The European Commission (EC) has launched the Trans-Mediterranean (T-MED) Investment Platform, part of the T-MED Renewable Energy and Clean Tech Corporation Initiative, which will provide large-scale investment opportunities for renewable energy and clean technologies.
Commissioner for the Mediterranean Dubravka Šuica presented the project during a stakeholder event in Brussels, Belgium, which was attended by European and international financial institutions, private investors and project promoters. Investment opportunities and projects that could benefit from Commission support will be reviewed by these parties.
The Platform will include up to €4.5 billion in guarantee capacity under the European Fund for Sustainable Development Plus (EFSD+), facilitating cooperation between financial institutions, investors and project promotors.
According to its press release, the EC stated: “The Mediterranean holds considerable untapped renewable energy potential. The T-MED Investment Platform aims to unlock this 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.”
