Latest news with #ELMED
African Manager
19-05-2025
- Business
- African Manager
Energy Transition in Tunisia and Mediterranean Partnership
Energy transition is a crucial challenge for Tunisia. By diversifying its energy sources and reducing its dependence on fossil fuels, the country can enhance its energy security, cut greenhouse gas emissions, and create new jobs. The direction is clear, and the ambition is set: Tunisia aims to green its energy mix by focusing on renewable sources. The goal is ambitious—reaching 30% renewable energy by 2030, equivalent to a production capacity of 4,800 megawatts (MW). However, the reality on the ground is far from ideal. Strengthening Mediterranean partnerships for a successful transition The success of Tunisia's energy transition depends on reinforcing Mediterranean partnerships in this field, stated the Secretary of State for Energy Transition in Sorrento, Italy. Tunisia is ready to play its role in this domain and share its expertise to build a sustainable energy future while ensuring energy supply at both national and regional levels, he said during the International Forum 'Towards the South' held on May 16-17 in the Italian city, according to the Ministry of Industry, Energy, and Mines. The official outlined the key pillars of Tunisia's 2035 Energy Strategy and the reforms undertaken by the ministry to diversify the energy mix. He emphasized the importance of deeper regional integration to address energy market instability and support industrial development. Spotlight on the ELMED Project The Secretary of State also held discussions highlighting the ELMED project, a future Tunisia-Italy electrical interconnection, set to become the first high-voltage direct current (HVDC) link between Europe and Africa. This project is backed by the European Union, described as Tunisia's 'strategic partner' in the energy sector. On the sidelines of the forum, the official met with Algerian Energy Minister Mohamed Arkab, accompanied by the CEOs of Sonatrach and Sonelgaz, to discuss the development of a tripartite electrical interconnection between Tunisia, Algeria, and Libya. Additionally, he held talks with Nicola Monti, CEO of Italian energy group Edison, on cooperation in energy innovation. Funding for Municipal Energy Efficiency Projects The National Agency for Energy Conservation (ANME) has launched a second call for applications to finance municipal energy efficiency projects, with the deadline approaching soon. Selected municipalities will be eligible to request loans from the Local Authorities Support and Loan Fund (CPSL). This initiative is part of the ACTE Program, led by ANME in collaboration with the Ministry of Environment, CPSL, and the Training and Decentralization Support Center. The call aims to encourage Tunisian municipalities to develop innovative green projects in three key areas: Energy efficiency, optimizing energy use in municipal buildings, vehicle fleets, and public lighting networks, renewable energy, primarily self-consumption projects to reduce reliance on fossil fuels and territorial studies, improving municipal energy performance, including urban mobility studies. The ACTE Program continues to drive local energy transition, building on a first call in 2020 that selected 11 projects, now underway. These projects, worth 2.7 million dinars, received a grant exceeding 837,000 dinars from the Energy Transition Fund (FTE). Eligible municipalities (under Decree No. 2014-3505 of September 30, 2014) can apply for this mechanism. While municipalities must provide self-financing, they can also secure CPSL loans. FTE grants cover 20% to 70% of total project costs, with ceilings ranging from 20,000 to 100,000 dinars (…).
African Manager
27-02-2025
- Business
- African Manager
Tunisia, a key partner for EIB that will accelerate funding in 2025
The European Investment Bank (EIB) continues its strong commitment to Tunisia, with €415 million in new financing signed in 2024, solidifying its role as a key partner in the country's economic and social development. These strategic investments aim to modernize infrastructure, stimulate the economy, and enhance resilience against climate and energy challenges, while supporting job creation and social inclusion, the Bank stated. Simultaneously, the EIB has increased its disbursements, rising from €163.7 million in 2023 to €196.6 million in 2024, reflecting a tangible acceleration in the deployment of funds on the ground and the immediate impact of supported projects. In 2024, the EIB backed several strategic initiatives to strengthen Tunisia's economic and social development. Among these commitments, the modernization of the Sfax-Kasserine corridor represents an investment of €210 million. This project, part of a broader €424 million program, aims to renovate 180 km of roadways to improve mobility, reduce transport costs, and enhance business connectivity to major economic hubs. Its dual objective is to stimulate private sector development in less-connected regions and promote more balanced territorial growth. Support for micro, small, and medium-sized enterprises (MSMEs) is another priority for the EIB. Through the 'Tunisia Economic Recovery' program, the Bank mobilized €170 million to facilitate access to financing for MSMEs, which account for 90% of Tunisia's entrepreneurial landscape and employ 60% of the workforce. This initiative, based on innovative risk-sharing tools, supports businesses that invest, innovate, and create new jobs. Additionally, an €8 million grant from the European Union bolsters this effort toward economic development. Education and food resilience Education and food resilience also received increased support in 2024. A €18.5 million financing package was allocated to modernize schools, building on a €40 million loan signed in 2023. This program aims to improve learning conditions by developing new school infrastructure and accelerating the digital transition in education, offering better prospects for Tunisian students. Meanwhile, a €17 million investment was dedicated to strengthening food resilience and supporting the agricultural sector, a key lever for securing the country's supply chain amid climate and economic challenges. Finally, energy transition and sustainable development were central to the EIB's financing in 2024. The EU Bank continues to support energy efficiency, renewable energy, and green mobility projects, including the Italy-Tunisia electricity interconnection (ELMED), alongside Team Europe. This strategic infrastructure will help secure the country's energy supply while fully harnessing its renewable energy potential. Ioannis Tsakiris, Vice-President of the European Investment Bank, stated: 'Tunisia is an important regional partner for the EIB and our support for its initiatives remains steadfast. This new financing demonstrates our commitment to supporting small and medium-sized enterprises, developing sustainable energy infrastructure and improving intra-regional connectivity. These investments will play a crucial role in creating jobs, boosting innovation and promoting balanced development, benefiting all Tunisians.' Jean-Luc Revéreault, Head of the EIB Representation in Tunisia, emphasized: 'In 2024, we delivered on our commitment to Tunisia through financing that addresses the concrete needs of businesses, communities, and citizens. Our ongoing projects enhance mobility, facilitate access to credit, and support the energy transition. In 2025, we will continue to adapt our solutions by accelerating funding for sustainable infrastructure, strengthening our support for SMEs, and backing innovative initiatives in energy and urban planning.' EIB Global: A tool for sustainable, inclusive, and resilient growth True to its mission, EIB Global, the EIB's specialized branch for financing outside the EU, will continue its work in collaboration with Tunisian and European partners to promote sustainable, inclusive, and resilient growth. In Tunisia, the EIB funds high-impact economic and social projects in strategic sectors such as education, urban development, transport, and energy. EIB Global, the specialized branch of the EIB Group, seeks to enhance the impact of international partnerships and development financing. It aims to foster stronger, more targeted collaboration with Team Europe, alongside other development finance institutions and civil society. EIB Global brings the Group closer to people, businesses, and local institutions through its global network of offices.
African Manager
31-01-2025
- Business
- African Manager
Africa's First Innovation Hub Managed by Italian Group Terna Inaugurated in Tunis
The first innovation hub in Africa managed by the Italian group Terna, named the 'New Terna Innovation Zone,' was inaugurated on Wednesday in Tunis as part of a strategic partnership between Italy and Tunisia. During the presentation of the hub, Minister of Foreign Affairs, Migration, and Tunisians Abroad, Mohamed Ali Nafti, emphasized the importance of this initiative, which falls within the framework of energy cooperation between Tunisia and Italy. He described the cooperation as 'dynamic, multisectoral, and constantly evolving to meet the aspirations of the two friendly nations.' Nafti also highlighted Tunisia's industrial and innovation strategy for 2035, which aims to attract talent, support startups, and foster the development of the energy industry in Tunisia. 'This initiative is a tangible response to the challenges of employment, innovation, and sustainable development in our country,' he added. For his part, Italian Ambassador to Tunisia, Alessandro Prunas, underscored the significance of launching the 'Terna Innovation Zone Tunisia,' which he said reflects the depth of relations between Tunisia and Italy. Prunas explained that the 'Terna Innovation Zone' project focuses on training and supporting innovative Tunisian talents. He emphasized the importance of investing in innovation to ensure sustainable and mutually beneficial outcomes, bridge the energy gap, and achieve renewable energy production goals. A Benchmark for Energy Innovation The Terna Innovation Zone in Tunisia, located in an emerging ecosystem offering significant development opportunities, represents a benchmark for energy innovation and sustainable development in North Africa. It plans to host open innovation and acceleration programs, enabling Tunisian startups to access resources, expertise, and opportunities from Terna's global network of collaborations across various international innovation ecosystems. Additionally, startups will benefit from the technical know-how provided by the Italian group. The initiative also aims to promote better integration of energy produced from renewable sources and ensure diversified, regular, and sustainable energy supply, in line with decarbonization goals. The Second in the World After San Francisco The first initiative in this regard will be the launch of a 'call for startups' in February 2025, followed by a 'scaling' evaluation program dedicated to the most promising and innovative Tunisian startups active in sectors related to energy and digital transition. The initiative is linked to the major ELMED infrastructure project, the first direct current electrical interconnection between Europe and Africa, which involves the construction of a 200 km submarine cable between Italy and Tunisia. In line with the principles of a just energy and digital transition, the activities of the Tunisian Terna Innovation Zone will also focus on training and developing engineers and technicians in the energy field, particularly through partnerships with local universities. The goal is to build a new generation of professionals in this sector by providing technical skills, promoting a culture of innovation, and equipping them with the tools to manage electrical infrastructures while adopting innovative technologies to enhance the efficiency of Tunisia's energy system. This is Terna's second global innovation zone, following the one in San Francisco. The U.S.-based innovation hub is dedicated to researching technological solutions, supporting the growth of Italian startups in Silicon Valley, the cradle of technology. It also focuses on generating strategic pathways and partnerships with key stakeholders, such as companies, major investment funds, universities, and research centers, within the world's most significant innovation ecosystem.
