According to the Enpi website(www.enpi-info.eu), the MSP-PPI will help the implementation and financing of projects designed to fulfil the Mediterranean Solar Plan. Areas addressed include renewable energy, energy efficiency as well as grid connection.
A major barrier to implementation of sustainable energy projects will be removed by the MSP-PPI covering project preparation costs. Investments made as part of this initiative may also be eligible for funding from the participating financiers. The project will seek to accelerate renewable energy production and energy efficiency to help meet growing demand. Mediterranean countries know the region has huge potential in this area and action is being intensified through the Mediterranean Solar Plan. It is an initiative of the European Investment Bank (EIB), together with the European Commission, the Union for the Mediterranean, the European Bank for Reconstruction and Development (EBRD), as well as other organisations. It is financed by the EU-funded Neighbourhood Investment Facility, which is managed by the European Commission.
The EU also funds a 4.6 million euros project called ''Paving the way for the Mediterranean Solar Plan'', which aims to assist the Southern Mediterranean Partner Countries in creating conditions conducive to greater use of renewable energy in general and solar energy in particular. (ANSAmed)