The European Bank for Reconstruction and Development (EBRD) is promoting renewable energy in Tunisia by financing the construction of a 10 MW solar power plant in the Feriana region of the country.
The financing package entails a €3.9 million EBRD loan and up to €1 million in concessional funding from Finland under the EBRD’s High Impact Partnership on Climate Action (HIPCA – Finland) to Centrale Solaire Feriana B, a special purpose vehicle owned by Qair, a European renewable energy company. The project is financed under the EBRD’s SEMED Private Renewable Energy Framework and consists of 10 MW of private, renewable generation capacity with expected CO2e emissions savings of 8,560 tonnes a year.
This will be one of the first projects to be developed under Tunisia’s regulatory framework for renewable projects and was awarded through an open and transparent tender. Furthermore, the project will promote gender equality by supporting the inclusion of women in the Tunisian renewable energy sector.
The Bank has been a key partner in the development of Tunisia’s renewable sector over the past seven years. This project marks a significant milestone for the country in terms of meeting its pledge to scale up renewable energy electricity production.
Aida Sitdikova, EBRD Director, Head of Energy Eurasia MEA, said: “We are very proud to partner with Qair to support energy transition in Tunisia. The country has strong potential for wind and solar resources, and this investment will contribute to the development of privately owned renewable energy and diversification of the energy mix.”
Eric Boutemy, Qair Tunisia Director, said: “We would like to extend our heartfelt thanks to the EBRD for its financing and invaluable support in our renewable energy project. The EBRD’s commitment has been instrumental in realising our vision. We look forward to continuing to work together to promote sustainable development and create a cleaner future in line with Tunisia’s objective to reach 30 per cent renewable energy production by 2030.”
Qair is an established European renewable energy company that develops, finances, operates, and owns generation plants (PV, wind, hydro, and hydrogen). It has a 1.4 GW portfolio of operational capacity and projects under construction, with a presence in several economies where the EBRD operates.
Since the EBRD began operations in Tunisia in 2012, it has invested over €2.2 billion in 70 projects and provided support to more than 1,200 small and medium-sized enterprises through European Union-funded technical assistance.