The European Commission has launched the T-MED Investment Platform, backed by up to €4.5 billion in EU guarantee capacity, to mobilise private investment in renewable energy and clean technologies across the Mediterranean. The platform aims to reduce investment risks and accelerate projects involving renewable electricity, green hydrogen, energy storage, electricity grids and cross-border interconnections.

Presented by Commissioner for the Mediterranean Dubravka Šuica at a stakeholder event in Brussels, the platform is part of the Trans-Mediterranean Renewable Energy and Clean Tech Cooperation Initiative (T-MED), a flagship initiative under the Pact for the Mediterranean. The European Fund for Sustainable Development Plus (EFSD+) will provide the guarantee capacity to help attract private capital and connect project developers with potential sources of financing.

Projects already under way in Egypt and Tunisia

T-MED is supporting several projects across North Africa. In Egypt, the initiative is enabling the modernisation and expansion of the national electricity grid through investments worth €1.6 billion, including new substations and transmission lines designed to integrate solar and wind power generated in the Red Sea and Gulf of Suez regions.

The initiative has also enabled a €575 million green ammonia project in Ain Sokhna, Egypt, which uses a European electrolyser and exports its production to the EU market. In addition, an EU guarantee has supported the construction of a hybrid solar photovoltaic project in Egypt worth around €430 million. The Niat and Rasgha wind projects will add 500 MW of onshore wind capacity in the Gulf of Suez, supporting Egypt’s future hydrogen production through European wind technology.

In Tunisia, T-MED is supporting two 100 MW solar photovoltaic plants and their associated transmission infrastructure. EU support amounts to approximately €92 million for the plants and €80 million for the transmission infrastructure, with the projects intended to encourage private-sector participation in the power sector and strengthen the country’s energy security and resilience.

Platform targets investment barriers and €25 billion by 2035

Beyond financing, the platform will support efforts to improve regulatory frameworks, permitting procedures, grid access and power purchase agreements (PPAs). It will also promote skills development and local clean technology value chains to help address barriers that can delay project deployment.

By 2035, T-MED aims to mobilise up to €25 billion in expected investment in renewable energy production, electricity grids, interconnections and clean technologies. The initiative also aims to train and upskill up to 100,000 workers.

The platform forms part of the EU’s broader ambition to build a connected, prosperous, resilient and secure Mediterranean region through closer cooperation with Southern Mediterranean partners.