Fundación Valenciaport has begun work on the POWER4MED project, which aims to accelerate the transition to carbon neutrality in marine transport.
This initiative, led by Sustainable Development Goal for the Mediterranean (SDG4MED) and involving Fundación Valenciaport, has a budget of nearly €800,000 ($872,000), which is co-financed by the European Maritime, Fisheries, and Aquaculture Fund (EMFAF) programme of the European Executive Agency for Climate, Infrastructure, and Environment (CINEA).
The primary goals of POWER4MED are to analyse what operators are looking for and what fuel alternatives are available.
READ: Fundación Valenciaport participates in the THEMIS 5.0 Project
Valenciaport noted that POWER4MED’s ambitions include assessing energy investment choices, assessing and piloting finance mechanisms to help decarbonisation, piloting adaptation costs for greening local infrastructures and transitioning ships to entirely sustainable fuel sources.
In addition, the POWER4MED support structure will reportedly be built to use project outcomes and network with relevant EU programmes for dissemination across the Mediterranean.
