International Union of Banks (UIB) Announces Participation in Financing of PURO Project
The International Union of Banks (UIB) is pleased to announce its participation in the financing of the PURO project, a 100 MW photovoltaic power plant located in Chebika, Kairouan Governorate. This structuring project, exclusively financed by Tunisian banks, is fully in line with the national energy transition strategy and constitutes a major reference in terms of low-carbon development in Tunisia.
Project Overview
The PURO project has a total cost of 280 million dinars and is financed through a syndicated loan led by BIAT, bringing together three other banks: UIB, ATB, and UBCI. In this context, the UIB group is involved as a leading financial partner, with a total contribution of 40 million dinars, divided between 30 million dinars of debt and 10 million dinars of equity through the UIB's SICAR. This demonstrates a strong commitment to financing the Tunisian economy. This operation illustrates the UIB's ability to carry out complex and large-scale financing.
National Interest Project
The PURO project is part of the Tunisian Solar Plan (PST), which aims to increase the share of renewable energies to 30-35% of national electricity production by 2030, with a significant contribution from photovoltaic solar energy. The power plant will supply green electricity to two cement plants, significantly reducing their carbon footprint and strengthening the country's energy security.
Complex Financial Structure
The PURO project is also distinguished by the complexity and demands of its financial structure, which has mobilized the UIB's Corporate, Risk, and Commercial teams in a cross-functional manner. "The UIB group's contribution to the PURO project confirms our commitment to financing the Tunisian economy and supporting the national energy transition. It demonstrates our ability to mobilize our expertise to finance large-scale infrastructure projects. It reinforces the UIB's positioning as a committed player in favor of businesses and sustainable development," says Philippe DUBOIS, General Manager of the International Union of Banks.
