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TunisiaEBRD promotes renewable energy in Tunisia
The European Bank for Reconstruction and Development (EBRD) and the French development agency, Proparco, are promoting the green transition of Tunisia by financing the construction and operation of two solar photovoltaic power plants in the areas of Tozeur and Sidi Bouzid.
The EBRD’s financing package consists of a loan of up to €12.5 million, a concessional tranche of US$ 8.9 million (€8.2 million) extended by the Clean Technology Fund (CTF) and US$ 5.0 million (€4.6 million) provided by the Global Environment Facility (GEF).
The EBRD has been a key partner in the development of Tunisia’s renewable sector over the past seven years and has been supporting Scatec since the inception of these projects.
The two solar photovoltaic power plants, each with an installed capacity of 60 MW, will be developed by Scatec, a leading renewable energy provider, and Aeolus, part of Japanese conglomerate Toyota Tsusho Group. The projects qualify for the financing programme for Joint Crediting Mechanism (JCM) model projects implemented by Japan’s Ministry of the Environment in cooperation with Tunisia and will provide low-cost green electricity.
The projects mark a significant milestone for the country in meeting its pledge to scale up renewable energy electricity production while reducing its reliance on fossil fuels. Once operational, they are expected to reduce annual CO2 emissions by up to 108,000 tonnes.
Countries covered:
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Tunisia
