European developer reaches financial close on 10 MW of solar in Tunisia

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 EBRD is financing the construction of a 10 MW solar plant in the Feriana region of Tunisia.

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.

EBRD has invested more than €2.2 billion in 70 projects since it began operations in Tunisia in 2012.

“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).

Earlier this month, Dubai-based Amea Power said that construction is underway on a 120 MW solar plant in northeastern Tunisia.

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.

This post appeared first on PV Magazine.

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