EU launches Mediterranean clean-energy platform with up to €4.5 billion in guarantees

The European Commission said the T-MED platform offers "up to €4.5 billion in guarantee capacity" under its EFSD+ fund for renewable power, renewable hydrogen, grids, storage, cross-border interconnections and clean-tech manufacturing around the Mediterranean. One example it gave is an Egyptian grid modernisation programme with a total investment value of €1.6 billion.