Tunisia-Italy interconnector moving forward: The European Commission (EC) has signed off on a EUR 307 mn (c. USD 336 mn) financing agreement for Tunisia’s planned Elmed electrical interconnection project with Italy, according to a statement. The interconnector’s expected launch date has not been revealed.

The project: The 600 MW subsea interconnector — to be developed by Italy-headquartered transmission operator Terna Group and Tunisia’s grid operator STEG — will link the Tunisian and EU power grids via a 220 km cable, enabling the trade of renewable energy between the North African country and Europe. The project is estimated to cost EUR 850 mn (c.USD 929 mn) with EUR 307 mn provided by the EC through the Connecting Europe Facility.

The World Bank recently extended a helping hand: The World Bank approved a USD 268.4 mn loan to Tunisia in June to finance the project, using the funds to build a main converter station and accompanying substations on the Tunisian side.

Who else is on board? The Elmed interconnector is backed by the European Union, the government of Italy, the German Development Bank KfW, the European Bank for Reconstruction and Development, and the European Investment Bank.