European renewables developer Qair will build a 10 MW solar plant in western Tunisia with a €3.9 million ($4.2 million) loan from the European Bank for Reconstruction and Development (EBRD), as well as to up to €1 million in concessional funding from Finland.
The financing package includes a €3.9 million EBRD loan and up to €1 million in concessional funding from Finland under the EBRD''s High Impact Partnership on Climate Action. The funding will be delivered to Centrale Solaire Feriana B, a special purpose vehicle owned by European renewables developer Qair.
"The country has strong potential for wind and solar resources, and this investment will contribute to the development of privately owned renewable energy and diversification of the energy mix," said Aida Sitdikova, EBRD director, head of energy Eurasia MEA.
Eric Boutemy, Qair Tunisia director, said the project will contribute to Tunisia''s objective of reaching 30% renewable energy production by the end of the decade.
Tunisia had deployed 506 MW of solar by the end of last year, up from 197 MW by the end of 2022, according to figures from the International Renewable Energy Agency (IRENA).
Qair, is based in Paris, develops, finances, operates and owns renewable energy plants. In December 2023, it said it had reached 1.4 GW of operational capacity and projects under construction.
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Energy intelligence published in its July issue "Tunisia Eyes Renewables, Efficiency as Gas output declines" where it depicts the energy situation in Tunisia and the strategies to face gas reserves decline and energy demand increase. These include renewable energy mix objectives and energy efficiency. As part of Tunisia energy strategy, solar export is being considered through the launch of TuNur project which is currently being considered for an agreement with the Tunisian Government.
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