The European Bank for Reconstruction and Development (EBRD), a leading institution promoting sustainable energy solutions, has announced a significant investment in Tunisia’s solar power sector.
Powering Up Tunisia’s Renewable Ambitions
The EBRD is providing a €3.9 million loan to support the construction of a 10 MW solar plant in Tunisia’s Feriana region. This financing package is further boosted by up to €1 million in concessional funding from Finland, facilitated through the EBRD’s High Impact Partnership on Climate Action.
The recipient of these funds is Centrale Solaire Feriana B, a special-purpose vehicle specifically established for this project.
This investment reflects the EBRD’s long-standing commitment to Tunisia’s development. Since 2012, the EBRD has poured over €2.2 billion into 70 projects across various sectors within the country.
Aida Sitdikova, EBRD’s Director and Head of Energy Eurasia MEA, emphasises the rationale behind this latest project.
“Tunisia boasts significant potential for wind and solar resources. This investment is crucial for diversifying the country’s energy mix and promoting the development of privately owned renewable energy sources.”
A Brighter Future for Renewables in Tunisia
The project is being undertaken by Qair, a prominent European renewables developer. Eric Boutemy, Qair Group Tunisia’s director, highlights the project’s alignment with Tunisia’s ambitious renewable energy goals.
“This solar plant will play a vital role in supporting Tunisia’s objective of achieving 30% renewable energy production by the year 2030.”
According to the International Renewable Energy Agency (IRENA), Tunisia’s current solar deployment stands at 506 MW, up from 197 MW at the end of 2022.
The Feriana solar plant, upon completion, will add valuable capacity to the country’s renewable energy portfolio, propelling it closer to its clean energy targets.
This project highlights the EBRD’s dedication to promoting renewable energy solutions in Tunisia. The new solar plant in Feriana is a significant step towards diversifying the country’s energy mix and fostering the growth of private renewable energy companies.
The EBRD’s loan and the collaborative efforts behind the Feriana solar plant project offer a sign of hope for Tunisia’s transition to a more sustainable energy future.
By embracing renewable energy sources, the country can ensure a cleaner environment, reduce reliance on fossil fuels, and potentially unlock new economic opportunities.
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With continued international support and local initiatives, Tunisia’s journey towards a brighter renewable energy future looks promising.
This initiative not only contributes to Tunisia’s renewable energy goals but also sets a precedent for international collaboration in driving impactful climate action.
Are you interested in learning more about the EBRD’s work in promoting sustainable energy solutions around the globe? Visit their website: https://www.ebrd.com/
