- The underwater power line project between Italy and Tunisia will receive a support of around 307 million euros ($324 million) of funding from the European Union.
- The money from the EU comes from the Connecting Europe Facility.
The underwater power line project between Italy and Tunisia will receive a support of around 307 million euros ($324 million) of funding from the European Union, according to the Italian power grid operator Terna and the European Commission. Terna also added that the Italian ministry for the environment and energy security had started the authorisation process for the project, estimated at around 850 million euros in total.
The money from the EU comes from the Connecting Europe Facility. The EU Commission also announced investments in seven other cross-border energy projects on Thursday worth about 602 million euros.
Italy is on the quest to become Europe’s energy hub and end its dependence on Russia for gas, creating a link to Africa to import electricity generated from renewable energy sources.