Its name Res4Med is an acronym that stands for Renewable Energy Solutions for the Mediterranean. It's a non-profit association that aims at promoting the development of renewable energy and its transportation in the Mediterranean area. This new platform was established byEnel Green Power together with Edison, CESI, GSE, PwC and the Polytechnic of Milan.
"Res4Med is not aimed at becoming another project in this field, like the various and significant ongoing ones", explained Enel President Paolo Colombo at the official presentation of Res4Med, which took place at the Enel Auditorium in Rome on May 3rd. "We aim at becoming a 'network of networks' of renewables capable of making exchanges with the institutions, guiding the strategic policies and energy investments and facilitating technology and economic transfer in the Mediterranean, Northern Africa and the Balkans."
According to Colombo, "thetwo banks of the Mediterranean are more than ever forced towork jointly to plan a sustainable future. A crucial, historic challenge, that can turn this region once more into a modern and prosperous area".
Indeed, countries south and east of the Mediterranean are significantly growing as regards of population and urbanization rates. This means a remarkable expansion of the energy demand, particularly of electricity consumption, and the need for new infrastructure.
The Observatoire Méditerranéen de l'Energie estimates that the electricity demand will grow by an average 4.6% each year until 2030, totaling 1,385 billion kWh, while according to the preliminary data estimated by the "Mediterranean Energy Perspectives 2011", by 2030 investments for solar and wind plants will amount to 120-160 billion euros. Investments in the southern bank will raise the installed capacity from103 GW in 2005 to 357 GW by 2030.
Countries in the southern Mediterranean area include vast dry or desert regions with high solar radiation and wind density. But notwithstanding this favourable context, this region has still not duly untapped its potential due to a number of technical, institutional, financial and market obstacles.
Francesco Starace, Enel Green Power CEO and Res4Med president, explained that "the coordination activities set forth by the new association will create a favourable context that will allow potential resources to become tangible ones, overcoming all technical, institutional, financial and market obstacles".