The Board of Administrators of the African Growth Financial institution Group (AfDB) not too long ago permitted a $27 million and €10 million mortgage bundle to co-finance the development of the 100-MW Kairouan solar energy plant in Tunisia, a rustic in North Africa.
This Board approval covers $10 million and one other €10 million from the AfDB and $17 million in concessional financing from the Sustainable Power Fund for Africa (SEFA), a particular multi-donor fund managed by the AfDB. Extra financing will come from the Worldwide Finance Company (IFC) of the World Financial institution Group and the Clear Expertise Fund (CTF).
Positioned in El Metbassta, Kairouan North area, this 100-MW mission will probably be developed by means of a build-own-operate (BOO) technique. It is likely one of the 5 renewable tasks awarded in 2019 by the Tunisian authorities.
The 100 megawatts Kairouan photo voltaic PV mission just isn’t solely a pioneer for different grid-based photo voltaic and wind unbiased energy tasks at the moment being developed in Tunisia but additionally a benchmark for the bankability of renewable power tasks within the nation as a result of it backed by sturdy and sturdy. agreements negotiated within the final three years underneath extraordinarily tough market situations.
mentioned Dr. Kevin Kariuki, AfDB’s Vice President of Energy, Power, Local weather and Inexperienced Progress.
Dubai-based AMEA Energy will handle the Kairouan photo voltaic mission. It’s a strategic shopper of the AfDB developed in shut collaboration between the 2 events.
In line with AfDB analysts, this financing reached the best bankability requirements after months of negotiations with the Tunisian authorities, providing a useful framework for future photo voltaic tasks in Tunisia and facilitating the -progress the nation to 35% clear power goal.
The Kairouan mission is in keeping with Tunisia’s Nationwide Contribution and goals to cut back carbon emissions by means of the transition to renewable power sources. Additionally it is in keeping with AfDB’s New Deal on Power for Africa and the “Mild up and Energy Africa” Excessive-5 strategic precedence.
