The African Development Bank (AfDB) and the Sustainable Energy Fund for Africa (Sefa), in partnership with the International Finance Corporation, are extending up to US$26 million in debt to Tunisia's first privately financed solar project.
The sponsor is Dubai-based AMEA Power, a developer, owner and operator of renewable energy projects, and one of the fastest-growing renewable energy companies in the region.
The 100-megawatt, US$86 million Kairouan solar photovoltaic plant is located about 150 kilometres south of Tunis, in El Metbassta. The AfDB is contributing US$13 million to the financing package through Sefa, a multi-donor fund that provides financing to unlock private sector investments in renewable energy and energy efficiency.
The partners signed project launch papers on September 26 at the government headquarters in Al Qasba, Tunis.
The Kairouan solar PV plant will be Tunisia's first utility-scale solar independent power producer, and will help Tunisia move towards its 35% clean energy target.