Amea Power has started the construction of a 120 MW solar plant in northeastern Tunisia. Once operational, the plant is expected to generate 222 GWh of clean energy per year.
Image: Amea Power
Dubai-based Amea Power has started building a 120 MW solar plant in Tunisia.
The project, located in northeastern Tunisia, is being implemented under a build-own-operate basis by Kairouan Solar Plant, a project company that is registered in Tunisia and fully owned by Amea Power.
Financial close was reached on the $86 million project in September 2023, due to funding from International Finance Corp. and the African Development Bank. Commissioning of the plan is scheduled for the final quarter of 2025. Once commissioned, it will be Amea Power''s first operational asset in Tunisia, generating 222 GWh of clean energy per year and powering more than 43,000 households.
Hussain Al Nowais, Amea''s Chairman, says the project is also Tunisia''s first privately-financed solar project.
A 20-year power purchase agreement was signed in June 2021 with Société Tunisienne de l''Electricité et du Gaz, Tunisia''s state-owned national electricity and gas utility company. It was ratified by the government of Tunisia in May 2022.
Amea Power claims to have projects in 20 countries covering solar, energy storage, wind and green hydrogen, totaling more than 1.6 GW in operation and under or near construction, in addition to another 6 GW in the pipeline. In November 2023, it announced the closing and funding of a $75 million equity funding round from Japan''s Softbank Group.
According to the International Renewable Energy Agency, Tunisia had deployed 506 MW of solar at the end of 2023, up from 197 MW at the end of 2022.
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The African Development Bank and the Sustainable Energy Fund for Africa (SEFA), in partnership with the International Finance Corporation and UAE’s AMEA Power, herald Tunisia’s first privately-financed solar project. This initiative is set to revolutionise the nation’s energy scene by cutting power generation costs, significantly trimming greenhouse gas emissions by over 90,000 tons annually, and bolstering Tunisia’s green transition.
The partners signed project launch papers on Tuesday 26 September, at the government headquarters in Al Qasba, Tunis. This initiative stands as one of Tunisia’s most impactful infrastructure projects in over a decade.
The 100-megawatt, $86 million solar plant located in Tunisia’s Kairouan governorate will benefit from up to $26 million in debt financing from the African Development Bank, including $13 million sourced from SEFA, a multi-donor fund that provides finance to unlock private sector investments in renewable energy and energy efficiency. The financing scheme is designed to ensure the holistic development, financing, operation, and maintenance of the plant, located roughly 150 km south of Tunis, in El Metbassta.
The plant is central to Tunisia’s strategy to reduce its reliance on natural gas. It aims to bolster the nation’s renewable energy share to an ambitious 35% by 2030, thus the Kairouan Solar project is not just about power generation; it is about regional transformation.
This project represents a positive stride towards Tunisia’s green transition. South-South investments such as this one underscore the essential role that private sector partners can play in the energy transition. This project is in line with our strategy to enable South-South investments, including from Gulf Cooperation Council countries to emerging markets.
This ambitious, renewable energy project will not only bring more affordable, clean energy to the people of Tunisia, but it will help Tunisia achieve its energy goals and attract more private investments into future green projects. Through the project, we’re proud to build on our partnership with AMEA Power to expand their operations across North Africa, helping address the effects of climate change in the region.
We are thrilled to achieve this pivotal moment as we sign the first solar IPP project in Tunisia. This achievement results from AfDB''s unwavering commitment to fostering sustainable energy solutions on the continent. Today''s success is the result of a strong partnership between the Government of Tunisia, AMEA Power, the Bank, SEFA and the IFC. It embodies our joint commitment to help move the country close to its 35% clean energy target.
We are delighted to reach financial close on this 120MW solar power plant in Tunisia, our first project in the country. This is a significant milestone for AMEA Power and for Tunisia, as it represents the largest solar project fully developed in the country to date. Despite all the challenges that the market has been experiencing since the COVID pandemic, we are proud that we are delivering this project and honouring our commitment to supporting Tunisia''s transition to clean energy. We are grateful for the strong support of our lenders and the Tunisian government in making this project a reality.
The Kairouan solar project symbolises much more than a renewable energy milestone for Tunisia; it’s a testament to the power of collaboration. As the inaugural transaction of its kind, it faced unique challenges, but the AfDB is committed to such transformative ventures. Today’s success and established partnerships will pave the way for future collaborations, driving a sustainable, prosperous and more just energy transition to Tunisia and Africa at large.
SEFA’s participation is highlighted by the project''s inclusion as a vital component of its COVID-19 IPP relief programme, designed to cushion late-stage renewable energy projects from the economic tremors of the pandemic. The programme seeks to neutralise any associated cost surges due to the pandemic, preserving the project’s feasibility. This will ensure the Kairouan Solar PV project’s unique position as Tunisia’s pioneering utility-scale solar Independent Power Producer or IPP.
Wale Shonibare, African Development Bank Director for Energy Financial Solutions, Policy & Regulation noted that the project resonated with the Bank''s unwavering dedication to catalysing sustainable energy solutions across Africa.
This monumental stride was possible due to the formidable collaboration between the Government of Tunisia, AfDB, SEFA, IFC, and AMEA Power. This venture exemplifies our collective effort to bolster Tunisia’s energy independence and fortify its green transition.
Emirati energy company AMEA Power has announced that the construction work of the Kairouan solar project in Tunisia will begin in the second quarter of 2023. The 100 MW solar power plant will be developed by AMEA in consortium with Chinese company TBEA Xinjiang New Energy Co. Ltd., where both companies were awarded the project tender by the Tunisian government in December 2019.
The announcement was made recently by AMEA Power''s chairman, Hussain Al Nowais on the sidelines of a business mission led by the Confederation of Tunisian Citizen Enterprises (CONECT) to Ivory Coast. The chairman said that a visit will be made to Tunisia in mid-December to meet the Tunisian authorities and energy players in order to discuss ways of achieving the solar project
Al Nowais also mentioned that the launch of this solar project was delayed due to several international situations, including the Russia-Ukraine war, after the launch of tenders required for its implementation. AMEA has already finalized all the conventional and legal procedures and currently working on mobilizing the necessary financing.
According to the chairman, the project will cost between $120 and $140 million, and an agreement in principle has already been secured from the International Finance Corporation (IFC) and the African Development Bank (AfDB). The project is expected to reach commercial operation in the first half of 2024.
The future solar park to be developed in Metbassta, Kairouan Governorate, will have the capacity to generate nearly 230 GWh of renewable electricity per year. This will be enough to meet the energy needs of around 43,000 local households for a year.
The chairman recalled that Tunisia has appropriate natural resources and human skills to attract private investment in renewable energy including solar and wind. He also expressed their willingness to boost its investments in clean power in the northern governorate of Bizerte.
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