Commissioner Šuica hosts dialogue on scaling up renewable energy investments across the Mediterranean
Tomorrow, Commissioner for the Mediterranean, Dubravka Šuica, will host an Implementation Dialogue in Brussels to discuss how to foster investment from the private sector in renewable energy across the Mediterranean.
The Mediterranean region holds vast untapped energy renewable potential – 2,300 GW, representing over twice the EU’s current capacity – with solar and wind costs 30-40% lower than in Europe. Strengthened cooperation will help unlock this potential while addressing common shared challenges between the EU and its southern Mediterranean partners, such as rising energy prices, dependence on fossil fuels, lack of competitiveness, supply-chain vulnerabilities and climate change.
The dialogue will bring together industry leaders, policymakers and financial stakeholders, including Mediterranean countries, to join forces in scaling up investments in energy projects in the region. The EU will support these efforts with the upcoming Trans-Mediterranean Renewable Energy and Clean-Tech Cooperation (T-MED) Initiative. This flagship initiative under the Pact for the Mediterranean is designed to strengthen energy collaboration between EU and the southern Mediterranean partners.
The discussions will focus on three key areas: removing investment barriers such as regulatory hurdles and financial risks, making the initiatives under T-MED attractive to private investors by improving incentives and transparency, and ensuring that all projects align with the EU’s broader goals for competitiveness and energy security.
Implementation dialogues underscore the Commission’s efforts to promote the EU’s competitiveness by directly engaging stakeholders in policy implementation. Insights from tomorrow’s discussions will shape the development and rollout of T-MED Initiative, helping the EU and its regional partners unlock the vast potential of solar, wind and green hydrogen energy.
