Workforce Europe, a funding alliance of European Union governments and banks, has dedicated EUR 472.6 million ($507.3 million) for a 220-kilometer (136.7 miles) undersea electrical energy hyperlink between Italy and Tunisia.
The Euro-Mediterranean interconnector, which can be the primary direct present connection between Africa and Europe in accordance with the implementing three way partnership, is deliberate to hold 600 megawatts. It could run from the Partanna electrical substation on the Italian island of Sicily to the Mlaabi substation on the Tunisian peninsula of Capo Bon. The ELMED mission, which might combine renewable energy sources, is a collaboration between the grid operators of the 2 nations, Italy’s Terna SPA and Tunisia’s STEG.
“ELMED will enhance vitality safety and financial stability in Northern Africa, marking a big milestone in worldwide collaboration on renewable vitality initiatives whereas stimulating elevated manufacturing capability”, the European Funding Financial institution (EIB), one of many backers, mentioned in an announcement.
European funding within the mission began with a EUR 307.6 million ($330.2 million) grant from the Connecting Europe Facility permitted December 2022. This funding, signed by the European Local weather, Infrastructure and Atmosphere Govt Company, STEG and Terna, is for the planning and building phases.
In December 2023, the EIB led EUR 125 million ($134.2 million) mortgage offers with the European Financial institution for Reconstruction and Growth (EBRD) and the German Growth Financial institution (KfW) to assist the mission’s important infrastructure such because the underwater cable.
The EU later that month permitted a EUR 27 million ($29 million) grant below the Neighborhood Funding Platform for the mission’s crucial infrastructure elements in Tunisia.
These embrace the modernization of the dispatch heart, which is carried out by the KfW. The German financial institution has invested EUR 13 million ($14 million) for this element, including to EUR 10 million ($10.7 million) from the EU. For the design and building technical supervision element, which is carried out by the EIB, the EU has dedicated EUR 12 million ($12.9 million) below the European Neighborhood Platform. For the social and environmental research element, which is carried out by the EBRD, the EU has invested EUR 5 million ($5.4 million).
“The ELMED mission contributes to strengthening vitality cooperation between Tunisia and Italy, and extra broadly to the combination of the North African and European electrical energy markets”, Fatma Thabet Chiboub, Tunisian minister for trade, mines and vitality, mentioned.
Together with the funding announcement, the EU and Tunisia additionally signed an settlement for EU help to assist the North African nation obtain its purpose of elevating the share of renewables in its energy combine to 35 p.c by 2030.
“Tunisia’s photo voltaic vitality potential is big”, Marcus Cornaro, head of the EU delegation in Tunisia, mentioned of the investments.
“ELMED will allow stabilize the ability grid on each side of the Mediterranean, and export electrical energy when attainable”, Cornaro added. “This can be a actual transition alternative for Tunisia, by way of economic system, employment and emissions discount”.
To contact the writer, e-mail jov.onsat@rigzone.com
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