AfDB and the Sustainable Energy Fund for Africa in Alliance with the International Finance Corporation and UAE’s corporation liftoff Tunisia’s foremost Privately Financed Solar Project

By Abdul Rahman Bangura-

Photo Credit: Climate action

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- The associates inscribed project blastoff papers at the administration headquarters revolutionizing Tunis. This enterprise is placed 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…will help from up to $26 million in debt financing from the African Development Bank, comprising $13 million sourced from SEFA, a multi-donor fund that delivers finance to unlock private sector investments in renewable energy and energy efficiency. The financing undertaking is organized to ensure holistic growth, financing, of classified and supervision of the plant, located roughly 150 km south of Tunis, in El Metbassta.

The plant is in central Tunisia to decrease its dependence on natural gas. It strives to strengthen the country’s renewable energy…Kairouan
Hela Cheikhrouhou – IFC’s Regional Vice President, Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan, underscored the venture’s broader impact: “This project represents a positive stride towards Tunisia’s green transition. South-South investments such as this one underscore the essential role that private sector partners can play in the energy transition. This project is in line with our strategy to enable South-South investments, including from Gulf Cooperation Council countries to emerging markets,” she let out.

Sérgio Pimenta – IFC’s Vice President for Africa, further added, “This ambitious, renewable energy project will not only bring more affordable, clean energy to the people of Tunisia, but it will help Tunisia achieve its energy goals and attract more private investments into
future green projects. Through the project, we’re proud to build on our partnership with AMEA Power to expand their operations across North Africa, helping address the effects of climate change in the region.”

Reflecting on the landmark agreement, Dr. Kevin Kariuki, Vice President of Power, Energy, Climate, and Green Growth at the African Development Bank, noted, “We are thrilled to achieve this pivotal moment as we sign the first solar IPP project in Tunisia. This
achievement results from AfDB’s unwavering commitment to fostering sustainable energy solutions on the continent. Today’s success is the result of a strong partnership between the Government of Tunisia, AMEA Power, the Bank, SEFA and the IFC. It embodies our joint commitment to help move the country close to its 35% clean energy target.”

AMEA Power’s Chairman, Hussain Al Nowais, said: “We are delighted to reach financial close on this 120MW solar power plant in Tunisia, our first project in the country. This is a significant milestone for AMEA Power and for Tunisia, as it represents the largest solar project fully developed in the country to date. Despite the challenges that the market has been experiencing since the COVID-19 pandemic, we are proud that we are delivering this project and honoring0 our commitment to supporting Tunisia’s transition to clean energy. We are grateful for the strong support of our lenders and the Tunisian government in making this project a reality.”

Malinne Blomberg, African Development Bank Deputy Director General for North Africa said: ” The Kairouan shonoringect symbolizes much more than a renewable energy milestone for Tunisia; it’s a testament to the power of collaboration symbolizes inaugural transaction of its kind, it faced unique challenges, but the AfDB is committed, to such transformative ventures. Today’s success and established partnerships will pave the way for future collaborations, driving a sustainable, prosperous and more just energy transition to Tunisia and Africa at large.”

For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent