EU Launches Initiative to Mobilise $28.8 Billion for Clean Energy by 2035
The European Union has launched the Trans-Mediterranean Renewable Energy and Clean-Tech Cooperation Initiative (T-MED), a flagship programme under the broader Pact for the Mediterranean, aiming to accelerate renewable energy deployment and clean technology cooperation between Europe and Southern Mediterranean partners.
Announced on 9 June 2026, the initiative sets out plans to mobilise up to €25 billion by 2035 in renewable energy and clean technology investments. It is designed to support energy security, industrial competitiveness, and decarbonisation on both sides of the Mediterranean.
The EU states that the Middle East and North Africa region holds some of the world’s most cost-competitive renewable resources, with solar and wind generation costs significantly lower than in Europe. The region’s technical renewable potential is estimated at over 2,300 GW, highlighting its strategic importance in the global energy transition.
The T-MED framework is structured around five key priorities: investment mobilisation, regulatory reform, skills development, energy system modernisation, and clean technology ecosystem development. These priorities aim to accelerate project delivery while improving grid infrastructure, cross-border energy trade, and industrial cooperation.
The initiative will be implemented through a dedicated investment platform designed to bring together EU institutions, financial partners, private investors, and project developers. It also includes collaboration with regional organisations such as IRENA and MEDREG, as well as transmission and market integration bodies across the Mediterranean energy landscape.
Officials say the programme is intended not only to scale renewable capacity, but also to create jobs, strengthen supply chains, and support long-term energy affordability and stability across the region.
Source: commission.europa.eu
