EBRD, France’s Proparco finance solar projects in Tunisia

The European Bank for Reconstruction and Development (EBRD) and the French development agency Proparco are advancing Tunisia’s green transition by financing two solar photovoltaic power plants in Tozeur and Sidi Bouzid.

The projects are developed by Scatec and Aeolus, a subsidiary of Toyota Tsusho Group.

The EBRD’s financing package includes a loan of up to €12.5 million, along with €8.2 million from the Clean Technology Fund (CTF) and €4.6 million from the Global Environment Facility (GEF).

These projects qualify for the Joint Credit Mechanism (JCM) model projects, a programme by Japan’s Ministry of the Environment in collaboration with Tunisia.

Each solar plant will have an installed capacity of 60 MW, contributing to Tunisia’s goal of increasing renewable energy production and reducing fossil fuel dependency.

Once operational, the plants are expected to cut annual CO2 emissions by up to 108,000 tons, providing low-cost green electricity to the region.

The EBRD has been instrumental in supporting Tunisia’s renewable energy sector for the past seven years and continues to play a key role in its development.

Attribution: The European Bank for Reconstruction and Development (EBRD)