Tunisian Parliament Approves €45 Million Loan from European Investment Bank for Electricity Project
The Tunisian Parliament approved, during a session on Tuesday, a guarantee agreement between Tunisia and the European Investment Bank (EIB) for a €45 million loan to the Tunisian Company of Electricity and Gas (STEG). This loan will finance the "Elmed" electricity connection project.
114 deputies voted in favor, while 10 voted against and 5 abstained. This project is part of Tunisia's efforts to improve its energy sector and ensure energy security by 2050.
The Minister of Economy explained that the project will enable the export of electricity produced from renewable sources to Italy and Europe. It also aims to meet the growing demand and reduce the impact of climate change.
Tunisia aspires to achieve carbon neutrality by 2035. The country plans to increase its renewable energy production capacity to 4,800 megawatts by 2030, representing around 35% of its total electricity production.
Currently, two power plants in Tozeur and Sidi Bouzid, with a capacity of 200 megawatts, are under construction. Other power plants in Tataouine and Gafsa, with a capacity of 300 megawatts, will also be launched.
Annual tenders will be launched to achieve this renewable energy goal.
