Thu. Jul 25th, 2024

The Tunisian Minister of Industry, Mines and Energy, Fatima Thabet Chiboub, announced the signing of a memorandum of understanding with the European Union that includes a strategic partnership to enhance investment in renewable energy worth 472.6 million euros.

The initiative will allocate 334.6 million euros from the European Union in the form of grants, mainly supporting the electrical interconnection project between Italy and Tunisia.

The project aims to achieve integration between the electricity markets in North Africa and Europe, and to ensure the stability of the electricity network on both sides of the Mediterranean.

Minister Chiboub indicated that the project also lays the foundations for a strong partnership between Tunisia and the European Union in several areas, especially those related to energy transition programs.

For his part, Ambassador Marcos Cornaro, European Union Ambassador to Tunisia, stressed the importance of this agreement in strengthening regional cooperation and exporting electricity when possible.

Tunisia witnessed a decline in primary energy resources by about 7% annually during the period from 2010 to 2019, and primary energy needs increased by more than 2% annually during the same period, and the energy deficit in Tunisia doubled approximately ten times within 8 years.

Tunisia relies heavily on natural gas, as it represents about 97% of the electricity sector’s consumption and has adopted a new energy transition strategy since 2013, aiming to reduce the energy deficit and improve the country’s energy independence through developing renewable energies and accelerating energy efficiency projects.

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