European Bank for Reconstruction and Development Announces €25 Million Investment in Tunisia's Solar Energy Sector
The European Bank for Reconstruction and Development (EBRD) announced today, August 6, a €25 million investment to finance the construction of two photovoltaic solar power plants in Tunisia, according to a bank statement.
Located in Tozeur and Sidi Bouzid, these facilities, developed by Norwegian company Scatec and Japanese company Aeolus, aim to strengthen the country's energy security and accelerate its transition to greener energy sources.
The financing package consists of a direct loan of €12.5 million from the EBRD, a concessional tranche of $8.9 million (€8.2 million) from the Clean Technology Fund (CTF), and $5 million (€4.6 million) from the Global Environment Facility (GEF).
Notably, the two plants, each with an installed capacity of 60 MW, are expected to reduce CO2 emissions by 108,000 tons per year.
These projects are also supported by the Joint Crediting Mechanism (JCM) program, in collaboration with the Japanese Ministry of the Environment, enabling Tunisia to diversify its energy sources while reducing its dependence on fossil fuels.
