The Solar Plan for the Mediterrenean (PSM), created in 2008, aims to create up to 20GW of energy by 2020 from the countries bordering the sea. To make the project a reality there needs to be electrical connections between the north and south of the sea, whereas at present there is only one between Spain and morocco. The project will be financed as a private-public venture through community funds, European Investment Bank and international financiers. The PSM is also an opportunity to develop cooperation between the various countries involved.
With the European presidency this year, Spain recently celebrated a conference on the plan bringing together all the energy companies in the EU, those that border the Med and other institutions in the energy sector.
The conference was held with the attendance of Egypt, Italy, Malta, Germany, Muritania, Belgium, Portugal, Greece, Tunisia and various figures in the energy world, the vice president of the European Investment Bank and the Director General of the Internationa Renewable Energy Agency.
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