Tunisia: African Development Bank Group Board approves $27 million and €10 million loans for Kairouan solar plant

  • Date: 23-Dec-2022
  • Source: Zawya
  • Sector:Real Estate
  • Country:UAE
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Tunisia: African Development Bank Group Board approves $27 million and €10 million loans for Kairouan solar plant

The Board of Directors of the African Development Bank Group (http://www.AfDB.org) has approved a $27 million and €10 million loan package to co-finance the construction of a 100-megawatt Solar power plant in Kairouan, Tunisia.

The Board approval covers $10 million and another €10 million from the Bank, and $17 million concessional financing from the Sustainable Energy Fund for Africa (SEFA), a special multi-donor fund managed by the Bank. Additional financing will come from the International Finance Corporation (IFC) of the World Bank Group and the Clean Technology Fund (CTF).

The project entails the design, construction, and operation of a greenfield solar photovoltaic (PV) plant with a capacity of 100 megawatts under a Build, Own and Operate (BOO) scheme. The project is located in El Metbassta, Kairouan North region, about 150 km south of the Tunisian capital, Tunis. It is one of five renewable projects awarded in 2019 by the government.

Société Kairouan Solar Plant S.A.R.L., developed by Dubai-based AMEA Power, will manage the project.

“The 100 megawatts Kairouan Solar PV Project will not only be a pioneer for other grid-based solar and wind independent power projects currently under development in Tunisia but also a benchmark for bankability of renewable energy projects in the country