Tunisian Electricity and Gas Company (STEG) and European Investment Bank (EIB) Sign Agreement to Support Tunisia-Italy Electrical Interconnection Project
The Tunisian Electricity and Gas Company (STEG) and the European Investment Bank (EIB) signed a financing agreement on Thursday, worth €12 million (approximately 41 million dinars), to support the implementation of the Tunisia-Italy electrical interconnection project (ELMED). This agreement was signed in the presence of European Commissioner for the Mediterranean, Dubravka Suica.
The President and CEO of STEG, Faïçal Trifa, and the Head of the EIB's Middle East and North Africa Division, Ulrich Brunnhuber, signed the agreement. The event was also attended by the European Union Ambassador to Tunisia, Giuseppe Perrone, the Director of the EIB's Tunis office, Jean-Luc Revereault, as well as representatives from the European delegation, the Ministry of Energy, and STEG.
Project Overview
The ELMED project aims to directly connect the Tunisian and Italian power grids, enhancing the energy security of both countries. It also plans to modernize Tunisia's national grid, promote investment in renewable energy, and consolidate the energy transition. The total cost of this strategic project is estimated to be around €1 billion.
Key Benefits
The ELMED project is expected to have a significant impact on the energy sector in Tunisia and Italy, providing numerous benefits, including:
- Enhanced energy security through the diversification of energy sources
- Increased investment in renewable energy, contributing to a sustainable energy mix
- Modernization of Tunisia's national grid, improving the efficiency and reliability of the energy supply
- Consolidation of the energy transition, supporting the reduction of greenhouse gas emissions and climate change mitigation efforts
Conclusion
The signing of the financing agreement between STEG and EIB marks a significant step forward in the implementation of the ELMED project. This project has the potential to transform the energy landscape in Tunisia and Italy, promoting sustainable energy development, energy security, and economic growth.
