Tunisia and the European Union have signed, during the Tunisia Investment Forum (Tif), a memorandum of understanding on 'a strategic partnership to promote and develop the potential of investments in renewable energies and ensure energy and strategic supply'. The agreement, which also provides for the mobilisation of EUR 472.6 million by Team Europe, was signed by the Minister of Industry, Mines and Energy, Fatma Thabet, and the Head of the EU Delegation in Tunisia, Marcus Cornaro. It is a 334.6 million grant from the EU to support the Italy-Tunisia Elmed electricity interconnection project and 125 million euros from the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the German Development Bank Agency (Kfw) for the purchase of submarine cables. The grant will also be used to consolidate operational capacities and expand the ecosystem project. The Tunisia-Italy electricity interconnection project, called Elmed, whose investment cost amounts to EUR 800m, will be operational in 2027. It will contribute to the construction of a 200 km high-voltage submarine interconnection linking Tunisia and Italy. Elmed is part of a Euro-Mediterranean electricity network connecting Europe to North African countries. It consists of the installation of a 600 MW high-voltage direct current submarine cable between Tunisia (Cape Bon) and Italy (Sicily)'.
The minister emphasised that 'the Elmed project will stimulate energy cooperation between Tunisia and Italy and promote the integration of the North African and European electricity markets'. Cornaro, spoke of Tunisia's enormous potential in the field of solar energy, believing that the country's energy independence also requires renewable energy. Elmed, he added, will make it possible to stabilise the electricity grid on both sides of the Mediterranean and to export electricity whenever possible. 'This is a real transition opportunity for Tunisia, in terms of economy, employment and emission reduction,' he reiterated.
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