Project Notice
|
| PNR |
56635 |
| Project Name |
STEG - ELMED power interconnector - Submarine cable |
| Project Detail |
Location:
Tunisia
Project number:
54389
Business sector:
Energy
Notice type:
State
Environmental category:
A
Approval date:
13 Dec 2023
Status:
Concept Reviewed
PSD disclosed:
05 Oct 2023
Project Description
Provision of a sovereign guaranteed senior loan of up to € 45 million to Societe Tunisienne de lElectricite et du Gaz ("STEG" or the "Company") to finance a 200-km 600 MW High-Voltage Direct Current (HVDC) submarine transmission cable connecting Tunisia and Italy. The project includes converter stations and related infrastructure in each country financed by other lenders ("ELMED").
ELMED will be operated and jointly owned by STEG and the Italian transmission system operator (TSO) Terna S.p.A. A grant of EUR 307.6m from EUs Connecting Europe Facility ("CEF") will contribute to the project. In addition to the CEF grant, ELMED will be co-financed by EIB, KfW and the World Bank.
Project Objectives
ELMED will improve the integration, resilience and stability of electricity systems in Tunisia and Italy and further between North Africa and Europe in the future. ELMED will contribute to the grid stability and dispatching optimisation required for a better renewable energy integration and climate strategy delivery in the two markets that have ambitious renewable energy objectives. |
| Funded By |
European Bank for Reconstruction and Development (EBRD) |
| Sector |
Energy & Power |
| Country |
Tunisia , Northern Africa |
| Project Value |
TND 839,600,000
|
