EBRD finances two 60 MW solar power plants in Tunisia for €25 million

The European Bank for Reconstruction and Development (EBRD) and the French development agency, Proparco, are investing in Tunisia’s energy transition by financing two solar photovoltaic power plants.
Located in Tozeur and Sidi Bouzid, these plants will boost the country’s renewable energy production capacity.

Strategic Financing

The EBRD is providing a loan of 12.5 million euros, backed by funds from the Clean Technology Fund (CTF) and the Global Environment Facility (GEF), for a total of 25 million euros.
The financing is aimed at reducing Tunisia’s dependence on fossil fuels and cutting its CO2 emissions by 108,000 tonnes a year.
Scatec, a leading renewable energy supplier, and Aeolus, a branch of the Japanese Toyota Tsusho Group, will be responsible for developing these projects.
The projects will also benefit from Japan’s Joint Crediting Mechanism (JCM) financing program, bringing affordable green electricity to Tunisia.

Partnerships and Commitments

Nandita Parshad, Managing Director of EBRD’s Sustainable Infrastructure Group, says: “We are proud to partner with Scatec and Aeolus-Toyota Tsusho Group on these large-scale solar projects in Tunisia.
“Terje Pilskog, CEO of Scatec, also expresses his enthusiasm for the financial closure of the projects and the next phase of construction, underlining the importance of the support of the Tunisian and Japanese governments.
Hideharu Toba, President of Aeolus, underlines the importance of this first investment since the creation of Aeolus in March 2024.
He thanks EBRD and Proparco for their ongoing support.
Françoise Lombard, CEO of Proparco, reiterates the organization’s commitment to Scatec and Aeolus, supporting these projects since their inception.

Impact and future prospects

These projects represent a significant step towards Tunisia’s renewable energy production objectives.
Scatec, with 4.6 GW in operation and under construction across four continents, continues to strengthen its global presence.
Toyota Tsusho Corporation, through Aeolus, seeks to promote renewable energies in Africa, illustrating its commitment to sustainable development.
Since 2012, EBRD has invested over €2.3 billion in 73 projects in Tunisia and supported around 2,000 local small and medium-sized enterprises through technical assistance funded by the European Union.
These initiatives demonstrate EBRD’s ongoing commitment to supporting sustainable development and renewable energy in Tunisia.