9 EU Countries Promise to Tap Mediterranean for Gr
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Posted On: 09/27/2024 5:37:01 PM
9 EU Countries Promise to Tap Mediterranean for Green Energy
Nine European Union (EU) member states have pledged to ramp up their efforts to adopt renewable energy and turn the Mediterranean region into a hub for green energy. According to officials from the nine southern EU countries, they have channeled their energy toward harnessing offshore solar and wind energy to achieve this dream.
The officials announced this goal at the recently concluded MED9 Energy Ministerial Meeting, which was held in Larnaca, a coastal city in southern Cyprus. Officials from the nine nations talked about converting the Mediterranean region into a green-energy hub and fighting off the negative effects of climate change by adopting renewables.
This included energy ministers from host nation Cyprus as well as Malta and Slovenia, an economy minister from Croatia, and officials from France, Italy, Spain, Portugal and Greece. These key leaders released a joint statement saying that they were working to eliminate the red tape that makes it difficult to set up joint green-energy projects to attract investors.
Furthermore, the officials asked the European Commission, the EU’s administrative body, to spearhead a study on the Mediterranean region’s potential for renewable energy. The study’s findings would help the EU Mediterranean nations make informed decisions regarding clean energy and take “concrete action,” the joint statement said. Cyprus energy minister George Papanastasiou said the MED9 nations are considering ways they can use offshore platforms to generate clean energy due to land scarcity in their territories.
He noted that some of these countries have already launched pilot offshore wind-energy programs in the shallows and that the other MED9 nations will use the results to design their offshore wind facilities. Papanastasiou also revealed that the MED9 nations had plans to leverage floating photovoltaic systems and wave-generated energy as the southern region of the EU receives plenty of sunlight annually.
According to Joan Groizard, director general of the Energy Agency in Spain, MED9 countries must lead Europe’s transition to green energy because they are more vulnerable to the negative effects of global climate change. Since most of these countries are located along the Mediterranean coast, they will be among the first to be affected by rising sea levels in the future.
Although this is still a long way into the future, its inevitability has spurred MED9 nations to action. Even so, these countries will have to ensure there are no interconnection bottlenecks to ensure all the green energy generated from offshore platforms can be plugged into the grid right away.
In other regions, companies such as First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF) are positioning themselves to be at the forefront of providing the critical metals that are pivotal to the use of green energies. The addressable market for these metals is massive and is growing at a high rate, which could open significant upside opportunities for entities that carve out a niche in this space.
NOTE TO INVESTORS: The latest news and updates relating to First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF) are available in the company’s newsroom at https://ibn.fm/FSTTF
Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer
Nine European Union (EU) member states have pledged to ramp up their efforts to adopt renewable energy and turn the Mediterranean region into a hub for green energy. According to officials from the nine southern EU countries, they have channeled their energy toward harnessing offshore solar and wind energy to achieve this dream.
The officials announced this goal at the recently concluded MED9 Energy Ministerial Meeting, which was held in Larnaca, a coastal city in southern Cyprus. Officials from the nine nations talked about converting the Mediterranean region into a green-energy hub and fighting off the negative effects of climate change by adopting renewables.
This included energy ministers from host nation Cyprus as well as Malta and Slovenia, an economy minister from Croatia, and officials from France, Italy, Spain, Portugal and Greece. These key leaders released a joint statement saying that they were working to eliminate the red tape that makes it difficult to set up joint green-energy projects to attract investors.
Furthermore, the officials asked the European Commission, the EU’s administrative body, to spearhead a study on the Mediterranean region’s potential for renewable energy. The study’s findings would help the EU Mediterranean nations make informed decisions regarding clean energy and take “concrete action,” the joint statement said. Cyprus energy minister George Papanastasiou said the MED9 nations are considering ways they can use offshore platforms to generate clean energy due to land scarcity in their territories.
He noted that some of these countries have already launched pilot offshore wind-energy programs in the shallows and that the other MED9 nations will use the results to design their offshore wind facilities. Papanastasiou also revealed that the MED9 nations had plans to leverage floating photovoltaic systems and wave-generated energy as the southern region of the EU receives plenty of sunlight annually.
According to Joan Groizard, director general of the Energy Agency in Spain, MED9 countries must lead Europe’s transition to green energy because they are more vulnerable to the negative effects of global climate change. Since most of these countries are located along the Mediterranean coast, they will be among the first to be affected by rising sea levels in the future.
Although this is still a long way into the future, its inevitability has spurred MED9 nations to action. Even so, these countries will have to ensure there are no interconnection bottlenecks to ensure all the green energy generated from offshore platforms can be plugged into the grid right away.
In other regions, companies such as First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF) are positioning themselves to be at the forefront of providing the critical metals that are pivotal to the use of green energies. The addressable market for these metals is massive and is growing at a high rate, which could open significant upside opportunities for entities that carve out a niche in this space.
NOTE TO INVESTORS: The latest news and updates relating to First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF) are available in the company’s newsroom at https://ibn.fm/FSTTF
Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer
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