Tunisia and the European Union (EU), Thursday, signed during the Tunisia Investment Forum (TIF) a memorandum of understanding on «a strategic partnership to promote and develop the potential of investment in renewable energy and ensure energy and strategic supply.»
The Forum is currently taking place on June 12 and 13 in Tunis.
The agreement, which also focuses on mobilizing €472.6 million by Team Europe, was signed by Minister of Industry, Mines and Energy, Fatma Thabet and Head of the EU delegation in Tunisia Marcus Cornaro.
This is a grant of 334.6 million granted by the EU to support the «ELMED» Italy-Tunisia electricity interconnection project and €125 million from the European Bank for Reconstruction and Development ( EBRD), the European Investment Bank (EIB) and the German Development Bank (KfW) for the purchase of submarine cables. The grant will also be dedicated to consolidate operational capacities and expand the ecosystem project.
The electricity interconnection project between Tunisia and Italy, called “ELMED”, whose investment cost amounts to €800 million (equivalent to 2,544.24 million dinars), will be operational in 2027. It will help create a-200-km underwater high-voltage interconnection, which will connect Tunisia and Italy.
ELMED” is also part of a Euro-Mediterranean electricity network connecting Europe and the countries of North Africa. It consists of installing a-600MW high voltage direct current submarine cable between Tunisia (Cap Bon) and Italy (Sicily)”.
Taking the floor, the Minister pointed out that «the ELMED project will boost energy cooperation between Tunisia and Italy as well as foster the integration of North African and European electricity markets.»
Head of the EU delegation in Tunisia, Marcus Cornaro, spoke of Tunisia’s enormous potential in solar energy, believing that the country’s energy independence also requires renewable energy.
He added that ELMED will make it possible to stabilize the electricity network on both sides of the Mediterranean and texport electricity when possible. «This is a real transition opportunity for Tunisia, in terms of economy, employment and reduction of emissions,» he reiterated.
The TIF is attended by over 800 participants, including Tunisian and foreign investors representing 30 countries.
