- MIGA backs €13.05 million guarantee over 20 years for Sidi Bouzid solar plant.
- Project to deliver 100 MW with 12 km transmission line under 25 year power deal.
- Supports Tunisia target to lift renewables to 35% from current 94% fossil fuel reliance.
The Multilateral Investment Guarantee Agency has issued a new guarantee to support the construction of a large grid connected solar power plant in central Tunisia, reinforcing the country’s transition toward cleaner energy. The guarantee, valued at up to €13.05 million over 20 years, has been extended to AEOLUS SAS of France, a joint venture between Eurus Energy Holdings Corporation of Japan and CFAO SAS of France, both subsidiaries of Toyota Tsusho Corporation.
The financing will support AEOLUS’ investment in Scatec Khobna PV Power SARL for the development, ownership, and operation of a 100 MW photovoltaic plant in Mezzouna in the Sidi Bouzid region. The project includes associated high voltage infrastructure with around 12 km of overhead transmission lines. Power generated will be sold to Société Tunisienne de l’Electricité et du Gaz under a 25 year power purchase agreement.
The project is being developed in partnership with Norway based Scatec and financed by the European Bank for Reconstruction and Development and the European Investment Bank. Additional backing comes from the European Union through an EFSD+ guarantee mechanism and grant support. Reinsurance coverage is also being provided by Nippon Export and Investment Insurance of Japan.
Tunisia continues to face heavy reliance on fossil fuels, which account for 94% of domestic electricity generation. The government is targeting a shift to 35% renewable energy by 2030 as part of efforts to improve energy security and reduce dependence on imports. The Sidi Bouzid project is expected to play a key role in meeting rising electricity demand while supporting a more sustainable energy mix.
MIGA Managing Director Tsutomu Yamamoto said the initiative reflects Tunisia’s ongoing efforts to diversify its energy sources and strengthen energy security, noting that the project will help improve energy self reliance in a sustainable and cost effective manner.
The guarantee marks MIGA’s fourth solar independent power producer project in Tunisia and builds on earlier support in 2024, when the agency provided €18.45 million in guarantees for the Sidi Bouzid I and Tozeur solar plants.
Author: Bryan Groenendaal
