The financing structure includes support from the European Fund for Sustainable Development Plus (EFSD+), with the EBRD benefiting from a first-loss guarantee and the EIB receiving backing through the Connectivity Component of the EFSD+ Open Architecture Guarantee Agreement. In addition, €5.5 million in grant funding from the EU’s Neighbourhood Investment Platform (NIP) will help finance associated transmission infrastructure. This contribution forms part of a wider €35.8 million EU Global Gateway package aimed at accelerating renewable energy investment in Tunisia. The development is linked to Tunisia’s 1.7 GW renewable energy concession programme launched in 2022, which supports the country’s goal of sourcing 35 per cent of its energy from renewables by 2030.

Harry Boyd-Carpenter, Managing Director of the EBRD’s Sustainable Infrastructure Group, said: “We are delighted to be partnering once again with Scatec and Aeolus, two of the most dynamic and rigorous investors in this sector, to finance this important project. This is also a great Team Europe effort, where we are partnering with our co-lender, the EIB, and benefiting from generous donor support from the European Union to support the development of clean and very low-cost energy in Tunisia. These benefits are even more important in the current circumstances, where we are seeing challenges to energy security. The success of this project is also a tribute to the Tunisian government’s determined efforts to push forward with an ambitious energy reform and transition agenda.” EIB Vice-President Ioannis Tsakiris stated: “This project marks an important step in supporting Tunisia’s efforts to deliver affordable, reliable and sustainable energy to its citizens, in line with the country’s national objectives. Through EIB Global and the Team Europe approach, we are working with our partners to scale up renewable energy investment and strengthen the infrastructure needed for a more secure and resilient energy system.” Giuseppe Perrone, EU Ambassador to Tunisia, added: “In the spirit of the EU-Tunisia memorandum of understanding on energy of June 2024, the European Union is taking concrete action in the renewable energy sector to ensure Tunisia’s energy security and decarbonisation, in line with the T MED programme launched by Commissioner Suica on 9 June 2026 during European Sustainable Energy Week.”

Alongside financing, the project will receive technical cooperation support from the EBRD’s Shareholder Special Fund. Programmes will focus on workforce capacity building in the Sidi Bouzid and Gabès regions to address emerging skills needs in Tunisia’s energy sector. Community initiatives in Khobna and Mezzouna will also promote awareness of gender-based violence and harassment (GBVH) and care-related benefits, with the aim of encouraging greater female participation in the workforce. Established in June 2021, EFSD+ provides grants and guarantees to mobilise investment across partner countries and has a global guarantee capacity of €39.8 billion for the 2021–2027 period, including €22.5 billion dedicated to enlargement and neighbourhood regions. Since 2012, the EBRD has invested more than €3 billion in Tunisia through 90 projects while supporting nearly 2,000 local small and medium-sized enterprises through EU-funded technical assistance programmes. The Tunisia Solar Project Expansion further strengthens cooperation between European institutions and Tunisia in advancing renewable energy and decarbonisation objectives.

The discussion comes as Brazil continues to rely heavily on renewable power, with around 90% of its electricity generated from renewable sources following decades of investment in hydropower infrastructure. While the growth of wind and solar capacity has strengthened the country’s clean energy profile, it has also introduced new operational challenges for the power system. These include rising levels of renewable energy curtailment, greater risks to grid stability and an increasing requirement for long-duration storage solutions capable of balancing supply and demand over extended periods. Recent estimates indicate that losses associated with renewable curtailment reached $1.1bn in 2025.

Industry representatives highlighted Pumped Storage Hydropower as an established technology capable of addressing these challenges. They noted that, unlike battery storage systems, pumped storage facilities do not depend on critical minerals and can deliver large-scale storage capacity while also providing important grid balancing services. The sector further pointed to the long operational lifespan of such facilities, which can function for more than 100 years while requiring relatively limited maintenance.

At the Brasília roundtable, industry participants presented five recommendations aimed at creating a more favourable investment environment. The proposals include establishing a clear regulatory framework for pumped storage developments, creating long-term auction pipelines, introducing 30-year capacity contracts, streamlining environmental licensing procedures and improving coordination among government agencies. Sector leaders argue that implementing these measures would help unlock large-scale storage investment and strengthen the resilience of Brazil’s electricity system as renewable generation continues to expand.

The programme involves the construction of state-of-the-art substations and the installation of advanced transmission lines designed to channel solar and wind power generated in the Red Sea and Gulf of Suez regions into the national grid. These upgrades to electricity infrastructure are expected to reduce transmission losses, improve reliability and bolster energy security across the country. The clean energy grid investment also supports Egypt’s broader strategic goal of becoming a regional clean-energy hub and advancing sustainable economic development.

This initiative represents one of the first concrete operations under the Trans-Mediterranean Renewable Energy and Clean-Tech Cooperation Initiative, known as the T-MED initiative, a flagship programme within the Pact for the Mediterranean. The T-MED initiative is designed to strengthen renewable energy and clean-technology cooperation between the European Union and its southern Mediterranean partners, contributing to the EU’s Global Gateway strategy.

H.E. Badr Abdelatty, Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates, said: “This agreement reflects the strength of the partnership between Egypt and the European Union and our shared determination to advance the green transition. Together with the EIB and the EU, we are taking an important step to modernise our electricity network, strengthen energy security and create new opportunities for sustainable growth. This is the kind of practical cooperation that brings real benefits to our economy and our people.”

European Commissioner for the Mediterranean Dubravka Šuica stated: “The Pact for the Mediterranean keeps delivering. Under its newly launched flagship initiative, T-MED, today we presented a major EU-supported project to strengthen and expand Egypt’s electricity infrastructure. This will reinforce Egypt’s role in the regional energy markets and create major business opportunities for local and European companies. It is another testimony of our shared commitment to sustainable growth, energy security and long-term prosperity in the Mediterranean.”

EIB Vice-President Gelsomina Vigliotti added: “This project is a very concrete example of what the partnership between Egypt and the European Union can achieve. By working together, Egypt, the EU and the EIB are supporting the expansion and modernisation of the electricity network, unlocking more renewable energy and strengthening the country’s role as a regional energy hub. For the EIB, this is about backing sustainable growth, greater energy resilience and better opportunities for people and businesses across the country.”

The EU financing package covers 44% of the total programme cost, with the remaining share funded through EETC’s own resources. This shared financing structure underscores the joint commitment of Egypt and its European partners to deliver long-term investment in clean, reliable and resilient energy infrastructure. The EIB Global-supported phase of the programme is scheduled for implementation between 2027 and 2030. The government of Egypt will serve as borrower through the Central Bank of Egypt, while EETC will lead the execution of the project as part of wider efforts to modernise the national electricity system. The investments will also contribute to regional electricity cooperation and future clean-energy trade and integration across the Mediterranean, reinforcing Egypt’s position in regional renewable energy markets.

Announced during European Sustainable Energy Week by Commissioner for the Mediterranean Dubravka Šuica and Commissioner for Energy and Housing Dan Jørgensen, the T-MED clean energy programme is backed by more than €5 billion in guarantee capacity made available by the European Commission under the European Fund for Sustainable Development Plus. This guarantee capacity is intended to help unlock both public and private investment in the sectors covered by the initiative. By 2035, the programme is expected to contribute to the development of 15 gigawatts of new renewable energy capacity, drive regulatory reforms in partner countries, and help generate more than 100,000 jobs across clean energy sectors.

The T-MED clean energy initiative will be delivered through five coordinated actions. The first centres on investment mobilisation, bringing together the Commission, European and international financial institutions, and the private sector to reduce investment risks, attract funding and support renewable energy and clean technology projects across the region.

The second action focuses on regulatory cooperation, helping partner countries improve the investment climate by simplifying permitting procedures, aligning regulations and reducing barriers to investment. Third, a dedicated T-MED Skills Agenda will align vocational training with the needs of the clean energy sector, ensuring local workforces can benefit from new job opportunities arising from the energy transition. This Skills Agenda will include support for modernised technical and vocational education and training systems, strengthen university partnerships, and promote excellence in engineering, digital technologies and green finance.

Fourth, T-MED will support infrastructure upgrades and renewable energy trading by mobilising investments to modernise electricity grids, promote cross-border energy trade and encourage the deployment of smart technologies to better integrate Mediterranean renewables into power systems. The fifth action involves clean tech industrial cooperation, supporting local manufacturing and more resilient supply chains while fostering innovation and industrial partnerships across the region.

Dan Jørgensen, Commissioner for Energy and Housing, commented: “The current energy crisis underscores how energy security cannot only rely on diversifying fossil fuel imports. We must move towards electrified energy systems based on clean energy, strong interconnections and efficient networks. This initiative will be key to unlock the untapped clean energy potential of the Southern Mediterranean region and foster investments in clean tech. It will serve both Europe’s and the region’s interest in lowering exposure to fossil fuel price shocks.”

Commissioner for the Mediterranean Dubravka Šuica added: “At a time of geopolitical uncertainty, growing energy demand and increasing climate pressures, unlocking this potential is in the shared interest of both the EU and its southern Mediterranean partners.”

The Commission has launched dedicated platforms for investors to participate. Private investors including commercial banks, asset managers and impact funds were invited to express their interest by 15 June, while project promoters can register interest until 15 August. By October 2026, the European Commission will chair the first operational meeting of the T-MED Investment Platform. The first EU-Mediterranean clean tech industrial collaborations are expected to take shape by 2027, bringing together companies from both sides of the Mediterranean.

The programme represents a significant effort to harness the region’s hydrogen and renewable energy potential, bolster energy security for both Europe and its southern neighbours, and build a clean technology manufacturing base capable of generating substantial employment across the Mediterranean.

Launched in May 2025, CISAF forms part of the broader Clean Industrial Deal, an EU initiative focused on accelerating decarbonisation efforts, improving industrial competitiveness and addressing climate-related challenges. The Italian programme will operate through contracts for difference (CfDs), a mechanism that provides renewable energy producers with support based on a predetermined strike price for every kilowatt hour supplied to the grid. If market electricity prices fall below the agreed level, the state will compensate developers for the difference. When prices rise above the strike price, developers will return the excess value to the state. The contracts will remain valid for 20 years, offering long-term revenue certainty while limiting the risk of excessive public support costs.

Financial support will be allocated through a transparent and non-discriminatory competitive bidding system in which developers submit strike-price bids required to make projects economically viable. Italy also plans to conduct a separate auction process for solar and wind installations exceeding one megawatt in capacity, with these projects subject to additional regulatory requirements. Smaller projects below one megawatt will be able to receive support without entering competitive auctions, with strike prices set administratively by ARERA, Italy’s energy regulator.

The European Commission stated that the €23 billion budget is based on current expectations for future electricity market prices, although the actual level of net public support could be lower if wholesale electricity prices remain stronger than anticipated. According to the Commission, the Clean Power Programme complies fully with CISAF requirements and will play an important role in helping Italy achieve its target of sourcing 39.4 percent of gross final energy consumption from renewables by 2030. The initiative is also expected to contribute to lower electricity prices over time, reduce reliance on imported energy and support the objectives of both the Clean Industrial Deal and REPowerEU in strengthening energy security and advancing a more resilient energy system.

The Chile Energy Auction 2026 process restricts eligible fuel sources to those meeting environmental standards, explicitly prohibiting coal, petroleum coke, diesel, and No. 6 fuel oil as primary generation sources. This framework means that generation assets or storage systems must connect to the National Electric System to qualify for bidding. The inclusion of battery storage as a valid backup mechanism represents a structural advantage for renewable developers seeking to meet supply obligations across different time periods throughout the day.

The tender encompasses two distinct supply blocks across a 15-year contracting period. Block 1 allocates 1,575 GWh annually from January 2029 through December 2043, while Block 2 provides 1,260 GWh annually from January 2030 through December 2044. Combined, these blocks represent a total tendered volume of 2,835 GWh annually, establishing substantial demand for long-term energy supply agreements.

The procurement strategy incorporates geographical zoning that concentrates most supply requirements in Zone 2, which encompasses demand from major distributors. Zone 2 accounts for 1,000 GWh in Block 1 and 799 GWh in Block 2. The remaining zones Zone 3, Zone 1, and Zone 4 collectively account for smaller but significant portions of the total demand.

A defining characteristic of the Chile Energy Auction 2026 structure involves time-of-day demand segmentation. Each supply block divides into three distinct bands: Band A covering off-peak hours (00:00–07:59 and 23:00–23:59), Band B capturing daytime periods (08:00–17:59), and Band C encompassing evening peaks (18:00–22:59). This segmentation creates differentiated demand patterns that align with natural solar generation cycles and storage discharge requirements.

Band B, corresponding to peak solar generation hours, represents the largest allocation within the tender. Block 1 assigns 700 GWh to this band, while Block 2 allocates 558 GWh. Band C, crucial for evening demand coverage through storage-enabled delivery, totals 389 GWh in Block 1 and 312 GWh in Block 2. This time-based structure enables renewable developers to leverage daytime solar generation while deploying stored energy during peak evening demand periods.

Renewable projects participating in the procurement must satisfy multiple operational criteria. The tender includes a variable component representing 5 percent of annual base energy demand, requiring bidders to demonstrate capacity for handling unexpected demand fluctuations. Developers must establish sufficient backup capacity, secure financial closure, and demonstrate measurable progress toward project execution timelines.

Bidders proposing new generation facilities must obtain backup contracts either through alternative generators or approved storage systems should project delays occur. For solar-plus-storage configurations, energy sourced from generation assets must remain clearly differentiated from energy discharged through storage systems, enabling transparent tracking of supply sources and ensuring compliance with contracted obligations.

The National Energy Commission’s demand forecasts anticipate continued growth throughout the study period. Regulated customer demand is projected to increase from 32,863 GWh in 2029 to 41,789 GWh by 2037. Alternative demand datasets suggest participating distributors’ consumption could rise from 32,279 GWh in 2029 to 46,018 GWh in 2040, indicating substantial long-term energy needs driving the scale of the procurement process.

The tender timeline establishes key milestones beginning with the official launch scheduled for July 1, 2026. An inquiry period extends through August 28, with responses and potential amendments due October 2. Bid submission takes place December 4, 2026, followed by economic offer opening January 5, 2027, and the award ceremony January 13, 2027. All bids must be denominated in USD per megawatt-hour, with reserve pricing determined through confidential administrative processes and disclosed only during economic offer evaluation.

The renewable energy assets include 13 operational wind farms with a combined capacity of 402MW alongside six photovoltaic solar parks delivering 303MW. Beyond the existing operational infrastructure, the agreement encompasses potential for over 565MW of additional capacity through hybridisation initiatives involving future wind, solar, and battery storage installations. Representatives from both organizations finalized the agreement in Abu Dhabi, with Masdar Chief Executive Officer Mohamed Jameel Al Ramahi and Repsol’s low-carbon generation executive managing director João Costeira signing the transaction.

The transaction is expected to reach completion by the end of 2026, contingent upon standard regulatory approvals. This Masdar acquires renewable energy assets through what represents the company’s eighth major renewables transaction within its strategic expansion framework. The transaction brings Repsol’s total renewable capacity rotated across Spain and the United States to 3.85GW, with the company currently maintaining 6GW of renewable generation in operation.

Repsol utilized syndicated financing arranged in December 2025 to support the portfolio, securing €550 million through leading financial institutions including Abanca Corporación Bancaria, Banco Sabadell, BNP Paribas, CaixaBank, Spain’s Instituto de Crédito Oficial, and UniCredit Bank. According to João Costeira, “This agreement marks another step forward in our strategy to maximise profitability, enabling us to bring in a leading global partner in the renewable energy sector, while further strengthening the value of our high-quality asset portfolio.”

For Repsol, this transaction forms part of a broader asset rotation strategy within its renewables division designed to enhance financial efficiency, facilitate development with strategic partners, and strategically diversify its renewable energy holdings. The approach reflects the company’s commitment to optimizing its renewable energy portfolio while maintaining operational excellence across existing assets.

Masdar’s acquisition directly supports its ambitious objective to increase renewable energy holdings in strategic markets while advancing toward 100GW of worldwide operational capacity by 2030. Upon completion of the transaction, Masdar will maintain 4.1GW of renewable capacity in operation across the Iberian Peninsula, with approximately 1GW currently under development. Mohamed Jameel Al Ramahi stated: “Spain is one of Europe’s fastest-growing major economies, and renewable energy is playing a critical role in powering that growth. This transaction strengthens Masdar’s portfolio, while deepening our support for Spain’s economic ambitions. We look forward to investing in the growth of these assets, and to building on our strong partnership with Repsol.”

The transaction underscores Masdar’s strategic positioning within European renewable energy markets and reflects broader trends of international investment in Spain’s clean energy infrastructure expansion.

Presenting the national budget in parliament on Thursday, Finance Minister Amir Khosru Mahmud Chowdhury said the government would also eliminate import duty, regulatory duty, supplementary duty and advance tax on a range of essential solar energy components. Under the new notification, products eligible for the exemptions include solar inverters, battery pack housing, lithium cells, lithium-ion batteries, solar photovoltaic modules and panels, mounting structures, battery energy storage systems (BESS), battery management systems, UV-protected solar DC cables and battery thermal management systems. “Through the gradual expansion of solar, wind and other clean energy sources, the foundations of a low-carbon economy will be established,” the minister said.

The minister further stated that investors would continue to receive support and incentives for local manufacturing of renewable energy equipment, including solar panels, wind power components and battery systems. Industry participants have welcomed the announcement, viewing it as a significant step toward expanding renewable energy investment and domestic clean energy production. Mostafa Al Mahmud, president of the Bangladesh Sustainable and Renewable Energy Association (BSREA), said the measures reflect the government’s commitment to the sector. “There is no alternative to clean energy for sustainable development,” he said. He added that sustained policy backing would enable industries to generate their own electricity while encouraging wider adoption of rooftop solar systems among households.

Bangladesh currently has an installed renewable energy generation capacity of 1,797 MW. Of that total, solar power accounts for 1,504 MW, underscoring the technology’s dominant role in the country’s renewable energy portfolio. The latest Solar Power Incentives package is expected to further support the expansion of solar capacity as Bangladesh advances its long-term clean energy objectives.

Under the structure announced by the ministry, 5GW will be allocated to fixed-bottom wind farms and another 5GW to floating wind farms. Fixed-bottom installations rely on turbines secured to foundations on the seabed and represent the more mature and generally lower-cost technology. Floating developments, by contrast, use platforms anchored to the seabed, allowing turbines to operate in deeper waters where conventional foundations may not be feasible. However, these projects typically involve additional costs linked to platform design, mooring systems and installation requirements. Companies interested in the developments will have four months to submit bids, with successful applicants expected to be selected in February 2027.

The timetable aligns with the French government’s objective of advancing the commitments outlined in the Energy Planning Law released in late February. Selecting winning bidders in early 2027 would enable progress on those targets before the next presidential election scheduled for April. The political backdrop remains significant, as the far-right National Rally, which opposes offshore wind development, is considered a strong contender to reach the election’s second round.

To support investment certainty, project operators will receive contracts for differences that guarantee a price mechanism. Under this framework, the state compensates operators when market prices fall below the agreed level, while operators return excess revenue when prices rise above it. The ministry also intends to encourage turbine maintenance during periods of low electricity prices to help limit negative pricing caused by renewable energy oversupply. In addition, the offshore wind projects will be subject to strict environmental requirements, including rules governing components manufactured outside Europe.

The initiative comes as climate and energy policy remain central priorities for the EU. Policymakers are seeking to maintain ambitious emissions-reduction targets while addressing concerns from governments and energy-intensive industries over the financial burden associated with carbon costs. The issue has gained additional attention amid worries that Europe is losing competitiveness relative to China and the United States. Brussels estimates that carbon costs contribute around 11% of electricity prices on average, although the impact varies across member states. Countries such as Poland, where carbon-related costs account for a significantly larger share of power bills, have advocated measures that could ease the economic challenges of the energy transition. The proposed EU Carbon Market initiative is being structured with these concerns in mind.

Further details are expected on July 15 when the European Commission presents its review of the ETS, the bloc’s flagship cap-and-trade emissions framework. People familiar with the matter said allowances for the new mechanism will be drawn from the ETS reserve for new entrants as well as an existing pool of free permits that can be allocated to companies undertaking low-carbon investments. The commission was not immediately available for comment.

The new tool is expected to form part of the EU Industrial Decarbonization Bank, a broader financing framework that could mobilize €100 billion for energy-transition investments. Once published, the ETS review will move to discussions involving the European Parliament and EU member states in the Council. Both institutions will have the opportunity to propose amendments during the legislative process, which can extend for up to two years. Among the options being considered is an accelerated approach to permit sales under the booster mechanism, a move that could help advance industrial decarbonization efforts. The outcome of the review is likely to play an important role in shaping the future direction of the EU Carbon Market.