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A €45 million ($48m) financing package will enable the construction of an energy bridge between Italy and Tunisia, linking the electricity systems of Europe and North Africa,
The investment package will assist Tunisias state-owned national electricity and gas utility company, Societe Tunisienne de IElectricite et du Gaz (STEG), in constructing a 200km, 600MW high-voltage direct-current submarine interconnection cable that will connect the electricity transmission networks of Tunisia and Italy by 2028.
The interconnection will allow for the cross-border trade of electricity between Tunisia and Italy.
This energy bridge will also reduce generation costs and renewable curtailment in Italy and, in the long run, is expected to allow Tunisia to export renewables to Europe, thereby reducing environmental and climate externalities.
The financing will also help to integrate the European and North African electricity grids and accelerate the development of renewable energy in Tunisia.
Multiple donors dedicated to funding the Tunisia-Italy interconnected
Through financing from the European Bank for Reconstruction and Development (EBRD) to Societe Tunisienne de IElectricite et du Gaz (STEG), the partnership can support the energy transition and the decarbonisation of Tunisias energy sector.
STEG and TERNA, the Italian transmission system operator will implement the project jointly. With a total cost of €920 million ($985,034,800), the project will also benefit from an investment grant of €307.6 million ($329,328,864) from the European Unions Connecting Europe Facility (CEF). |
