This paper presents a first assessment of the renewable energy projects, proposed by the nine Mediterranean Partner Countries (MPCs) under the Mediterranean Solar Plan (MSP) and the associated potential economic impacts. As one of the priority projects of the Union for the Mediterranean (UfM), the MSP's objective which attracted most attention until now is the intention to deploy an additional 20GW of renewable electrical capacity in the Southern and Eastern Mediterranean region (covering the MPCs plus Turkey) by 2020. The main findings of this research are: (1) as of February 2010, a total of 10.3GW of renewable project proposals were identified in the MPCs, corresponding to about half of the 20GW target; (2) investment needs for the identified projects could amount to EUR 21 billion by 2020, which represents about five times the amount invested by the region in conventional electricity generation in the last decade; and (3) the difference between the cost of renewable electricity generation and the economic cost of its fossil fuel alternatives could amount to EUR 1.2 billion. Insights stemming from the results of this research can generate useful regional messages for energy policy leaders in the MPCs to accelerate the development of renewable energy projects.
