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The European Commission has launched the T-MED Investment Platform under the Trans-Mediterranean Renewable Energy and Clean Technology Cooperation Initiative to mobilise large-scale renewable energy and clean technology investment across the Mediterranean.

The platform will have access to guarantees of up to 4.5 billion euros under the European Fund for Sustainable Development, a package meant to lower investment risks, attract private capital and speed up viable projects.

Investment target through 2035

The EU aims to mobilise up to 25 billion euros in investment in renewable power generation, electricity grids, interconnections and clean technologies by 2035 through the T-MED platform.

Key takeaways

• The European Commission launched the T-MED Investment Platform for Mediterranean renewable energy and clean technology projects.
• Guarantees of up to 4.5 billion euros will be available through the European Fund for Sustainable Development.
• Supported projects include Egypt's grid upgrade, a 575 million euro green ammonia plant in Ain Sokhna and two solar plants in Tunisia.
• The EU targets mobilising up to 25 billion euros in related investment by 2035.