- Scatec awarded long term power purchase agreement with state utility STEG for El Fahs wind farm.
- Project supports Tunisia’s renewable energy targets and energy security ambitions.
- Financial close targeted for first half of 2027 with total investment of around EUR 100 million.
Scatec ASA has been awarded a 25 year power purchase agreement by Tunisia’s state owned utility Société Tunisienne de l’Electricité et du Gaz for a 75 MW wind power project at El Fahs.
The agreement was secured through a government tender aimed at accelerating the deployment of renewable energy and strengthening national energy security. The project will be developed in partnership with Aeolus SAS, part of the Toyota Tsusho Group of Japan, with Scatec and Aeolus each holding a 50 percent ownership stake.
El Fahs marks Scatec’s first wind energy project in Tunisia and represents a strategic expansion of its technology portfolio in the country. The site benefits from strong wind resources supported by long term wind data, positioning the project as a key contributor to Tunisia’s clean energy transition. The development aligns with Scatec’s broader strategy to build a scalable wind power portfolio across selected markets.
Commenting on the award, Scatec chief executive officer Terje Pilskog said the project reflects the company’s ability to grow profitably in attractive renewable energy markets. He highlighted the importance of the partnership with Aeolus, the quality of the wind resources and the security provided by long term contracted revenues.
Total capital expenditure for the project is estimated at approximately EUR 100 million. Financing will be structured through a combination of non-recourse debt and equity. Scatec is currently engaging with selected financial institutions to secure debt financing, with the final financing structure to be confirmed at financial close, expected in the first half of 2027.
Scatec will deploy its integrated development model on the project, with details on its engineering, procurement and construction, asset management and operations and maintenance roles to be disclosed at financial close.
Author: Bryan Groenendaal
