29/09/2023
Tunisia: African Development Bank (AfDB), AMEA Power, International Finance Corporation (IFC) and Sustainable Energy Fund for Africa (SEFA) launch first large-scale privately-financed solar project.
This initiative stands as one of Tunisia's most impactful infrastructure projects in over a decade.
TUNIS, Tunisia, -- The African Development Bank (www.AfDB.org) and the Sustainable Energy Fund for Africa (SEFA), in partnership with the International Finance Corporation and UAE's AMEA Power, today herald Tunisia's first privately-financed solar project. This initiative is set to revolutionise the nation's energy scene by cutting power generation costs, significantly trimming greenhouse gas emissions by over 90,000 tons annually, and bolstering Tunisia's green transition.
The partners signed project launch papers on Tuesday 26 September, at the government headquarters in Al Qasba, Tunis. This initiative stands as one of Tunisia's most impactful infrastructure projects in over a decade.
The 100-megawatt, $86 million solar plant located in Tunisia's Kairouan governorate will benefit from up to $26 million in debt financing from the African Development Bank, including $13 million sourced from SEFA, a multi-donor fund that provides finance to unlock private sector investments in renewable energy and energy efficiency. The financing scheme is designed to ensure the holistic development, financing, operation, and maintenance of the plant, located roughly 150 km south of Tunis, in El Metbassta.
The plant is central to Tunisia's strategy to reduce its reliance on natural gas. It aims to bolster the nation's renewable energy share to an ambitious 35% by 2030, thus the Kairouan Solar project is not just about power generation; it is about regional transformation.
