EU to mobilise up to €25 billion for renewable energy, clean technology by 2035

BRUSSELS, (UrduPoint / Pakistan Point News / WAM - 10th Jun, 2026) Today, the European Union launched the Trans-Mediterranean Renewable Energy and Clean Tech Cooperation (T-MED) – a flagship initiative under the Pact for the Mediterranean. T-MED aims to accelerate the development of renewable energy, hydrogen, clean technology manufacturing and modern electricity networks across the Mediterranean region, supporting a more integrated, sustainable and interconnected Mediterranean energy market.

Unveiled during the European Sustainable Energy Week by Commissioner for the Mediterranean, Dubravka Šuica and Commissioner for Energy and Housing, Dan Jørgensen, T-MED aims to mobilise up to €25 billion in expected investments by 2035.

The European Commission has made available more than €5 billion in guarantee capacity under the European Fund for Sustainable Development Plus. This guarantee capacity will help unlock public and private investment in sectors covered by T-MED.

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At its core, T-MED seeks to strengthen energy cooperation across the Mediterranean. By 2035, the initiative is expected to contribute to the development of 15 gigawatts of new renewable energy capacity, support regulatory reforms in partner countries, and help generate more than 100,000 jobs in clean energy sectors.

By bringing together governments, financial institutions, private actors and local stakeholders, T-MED will promote cross-border cooperation and strategic energy partnerships.

By supporting the diversification of energy systems and supply chains, the initiative will enhance energy security, reinforce competitiveness, support decarbonisation

and contribute to the region's long-term prosperity and stability for both the EU and its partner countries in the southern Mediterranean.

By 2027, the first EU-Mediterranean clean tech industrial collaborations will take shape, bringing together companies from both sides of the Mediterranean.