1 TERAWATT RENEWABLE ENERGY CAPACITY INSTALLED IN THE MEDITERRANEAN REGION BY 2030

At COP28, over 130 countries agreed to expand renewable energy capacity to 11 Terawatt globally by 2030. Despite enormous potential for renewable energy development, the Mediterranean region lacks a common target for renewable expansion. The TERAMed initiative aims to deliver a globally significant breakthrough by delivering 1TW of renewable energy capacity in the Mediterranean by 2030. This will show how renewable energy can provide energy security, affordability, clean industrial development, jobs, and investments for the region.  

The Mediterranean region has historically played a strategic role in global energy dynamics, mostly through fossil fuels exploitation. Today, the decarbonisation imperative requires a rapid and just fossil-to-clean shift. Shifting the focus to renewable energy offers a fresh and unique opportunity to work together to tackle the diverse but common set of challenges faced by countries across the region. An inclusive energy transition pathway for the region is critical to underpin its future’s stability and achieve sustainable development goals, reduce the reliance on fossil fuels, mitigate geopolitical tensions and support the global decarbonisation pathway.