The Mediterranean Solar Plan Project Preparation Initiative begins
- Jun 19, 2012
The Mediterranean Solar Plan Project Preparation Initiative (MSP-PPI) aims to accelerate the implementation of renewable energy and energy efficiency projects in several Mediterranean partner countries*.
This is an initiative of the European Investment Bank (EIB), together with the European Commission, AFD, KfW, AECID, EBRD and the Union for the Mediterranean. It is financed by the EU-funded Neighbourhood Investment Facility which is managed by the European Commission.
The MSP-PPI will help the implementation and financing of projects designed to fulfil the Mediterranean Solar Plan. Areas addressed include renewable energy, energy efficiency as well as grid connection.
A major barrier to implementation of sustainable energy projects will be removed by the MSP-PPI covering project preparation costs. Investments made as part of this initiative may also be eligible for funding from the participating financiers.
This important initiative will seek to accelerate renewable energy production and energy efficiency to help meet growing demand. Mediterranean countries know the region has huge potential in this area and action is being intensified through the Mediterranean Solar Plan.
* Algeria, Egypt, Gaza/West Bank, Jordan, Lebanon, Morocco and Tunisia.