{"id":78891,"date":"2023-08-09T01:00:43","date_gmt":"2023-08-09T01:00:43","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/08\/09\/eu-signs-off-on-eur-307-mn-financing-agreement-for-tunisia-italy-interconnector\/"},"modified":"2023-08-09T01:00:43","modified_gmt":"2023-08-09T01:00:43","slug":"eu-signs-off-on-eur-307-mn-financing-agreement-for-tunisia-italy-interconnector","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/08\/09\/eu-signs-off-on-eur-307-mn-financing-agreement-for-tunisia-italy-interconnector\/","title":{"rendered":"EU signs off on EUR 307 mn financing agreement for Tunisia-Italy interconnector"},"content":{"rendered":"

<\/a> Tunisia-Italy interconnector moving forward: <\/strong>The European Commission (EC) has signed off on a EUR 307 mn (c. USD 336 mn) financing agreement for Tunisia\u2019s planned Elmed electrical interconnection project<\/a> with Italy, according to a statement<\/a>. The interconnector\u2019s expected launch date has not been revealed.<\/p>\n

The project:<\/strong> The 600 MW subsea interconnector \u2014 to be developed by Italy-headquartered transmission operator Terna Group<\/a> and Tunisia\u2019s grid operator STEG<\/a>\u2014 will link the Tunisian and EU power grids via a 220 km cable, enabling the trade of renewable energy between the North African country and Europe. The project is estimated to cost EUR 850 mn (c.USD 929 mn) with EUR 307 mn provided by the EC through the Connecting Europe Facility<\/a>.<\/p>\n

The World Bank recently extended a helping hand:<\/strong> The World Bank approved a USD 268.4<\/a>mn loan<\/a> to Tunisia in June to finance the project, using the funds to build a main converter station and accompanying substations on the Tunisian side.<\/p>\n

Who else is on board? <\/strong>The Elmed interconnector is backed by the European Union, the government of Italy, the German Development Bank KfW, the European Bank for Reconstruction and Development, and the European Investment Bank.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tunisia-Italy interconnector moving forward: The European Commission (EC) has signed off on a EUR 307 mn (c. USD 336 mn) financing agreement for Tunisia\u2019s planned Elmed electrical interconnection project with Italy, according to a statement. The interconnector\u2019s expected launch date has not been revealed. The project: The 600 MW subsea interconnector \u2014 to be developed […]<\/p>\n","protected":false},"author":1,"featured_media":78892,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[243],"tags":[11,351,164,88,294],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-78891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-green-finance","tag-enterpriseclimate","tag-europe","tag-green-finance","tag-renewables","tag-tunisia","wpautop","entry"],"acf":{"mongo_id":"70d69804-6273-49af-b582-5c215e4af3cf","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/1046.jpg","photo_position":"above","related_issue":[78881],"teaser":"","voice_url":""},"yoast_head":"\nEU signs off on EUR 307 mn financing agreement for Tunisia-Italy interconnector - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/09\/eu-signs-off-on-eur-307-mn-financing-agreement-for-tunisia-italy-interconnector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EU signs off on EUR 307 mn financing agreement for Tunisia-Italy interconnector\" \/>\n<meta property=\"og:description\" content=\"Tunisia-Italy interconnector moving forward: The European Commission (EC) has signed off on a EUR 307 mn (c. 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