US$13.7 million loan to finance construction of 120 MW solar power plants in Tunisia

The European Bank for Reconstruction and Development (EBRD) has approved a EUR 12.5 million (US$13.7 million) loan to finance the construction of two 60 MW solar power plants in Tozeur and Sidi Bouzid, Tunisia.

The EBRD is funding the construction and operation of two solar plants in Tunisia, with financial support from French development agency Proparco. The funding includes a EUR12.5 million loan (US$13.7 million), an EUR 8.2 million (US$ 8.9 million) concessional tranche from the Clean Technology Fund, and EUR 4.6 million (US$ 5 million) from the Global Environment Facility. The solar plants, located in Tozeur and Sidi Bouzid, will be developed by Scatec and Aeolus (a division of Toyota Tsusho). These will be the developers' first large-scale projects in Tunisia and are expected to reduce annual carbon emissions by up to 108,000 tons once operational.