Energy and Climate Finance in the Context of the EU–North Africa Partnership

Sabrine Emran, Hanne Knaepen and Larabi Jaïdi

No 2447, Policy briefs on Economic Trends and Policies from Policy Center for the New South

Abstract: The European Union (EU) is seeking to enhance energy security. It clearly recognises North Africa’s strategic role in the global energy transition, given the region’s abundant renewable resources, with some of the world’s highest solar irradiation and strong winds. Joint efforts could advance shared sustainable energy solutions and generate mutual benefits. Climate finance plays a crucial role in facilitating the renewable energy transition. Egypt, Tunisia, Morocco and Algeria are well-positioned to lead this transition, while advancing their own renewable energy sectors, green industrialisation and the hydrogen economy. Through the EU’s Global Gateway AfricaEurope Investment Package (EC, 2025a), various flagship projects have been approved for North Africa since 2023. These include green energy projects in Algeria and Tunisia (MedLink) (Council of the European Union, 2024), a 1.7 GW renewable energy programme in Tunisia in 2024 (Hellenic Aid, 2024) or the construction of a high-voltage undersea electrical interconnection between Egypt and Greece in 2023 (French Ministry of Europe and Foreign Affairs, 2023). However, realising this potential requires significant investment and infrastructure development to ensure a just and sustainable transition that benefits both local economies and global partners.

Date: 2025-07
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