HomeNewsAfDB approves $27 million for a solar power plant in Kairouan, Tunisia

AfDB approves $27 million for a solar power plant in Kairouan, Tunisia

The ADB Board of Directors has approved a loan package of $27m and €10m to help co-finance the development of a 100-megawatt solar power plant in Kairouan.

The approval involves $10 million and €10 million from the Bank. As well as $17 million in concessional financing provided through the Sustainable Energy Fund for Africa (SEFA).

Search for construction leads
  • Region/Country

  • Sector

Additional financing will be provided by the International Finance Corporation (IFC), a subsidiary of the World Bank Group and the Clean Technology Fund (FTC). The project is being managed by Kairouan Solar Plant SARL, which was created by the Dubai-based AMEA Power.

VP of the ADB in charge of Electricity, Energy, Climate and Green Growth, Kevin Kariuki, said, “The 100mw solar power plant in Kairouan will not only set the bar for other grid-independent solar and wind energy projects currently being developed in Tunisia. It will also serve as a benchmark for the viability of renewable energy projects in the nation.

Given that it is supported by solid and long-lasting agreements. That was negotiated over the course of the last three years under extremely challenging market conditions”

Overview of solar power plant in Kairouan

The project encompasses the design, construction and operation of a 100 megawatt photovoltaic solar power plant. Which is run under a “BOO”-style program (build, own, operate). About 150 kilometers south of Tunis, the project is situated near El Metbassta, in the Kairouan North region. It is one of the government’s five green projects that were awarded in 2019.

Also Read: Tunisia 500MW IPP Solar Power Plants Projects Update

Daniel Schroth, the director of the Bank’s Renewable Energy and Energy Efficiency Department and the person in charge of the SEFA fund, emphasized that SEFA’s concessional terms are likely to absorb the cost increase brought on by Covid-19 and to keep the project economy at a level that is acceptable for reaching financial close.

He said, “The solar power plant in Kairouan demonstrates the SEFA’s catalytic effect. Which assists project promoters in the development of environmentally friendly initiatives that aid in Africa’s energy transition.”

Must Read

Arror and Kimwarer dams in Kerio Valley, Kenya

Four years after being halted, work on the Kerio dams, consisting of the Arror and Kimwarer dams, is set to resume. This comes after...

Plans approved for construction of 32-storey tower at Leadenhall Market in London

Plans have been approved for the construction of a 32-storey tower at Leadenhall Market in London. The Square Mile's "tourist appeal" will be boosted...

Construction of US$ 200M solar panel manufacturing plant in Ohio in the pipeline

Plans are underway for the construction of a US$ 200M solar panel manufacturing plant in Ohio. The facility is set to be built by...

Ground breaks for electric vehicle (EV) battery giga factory in Kokomo, Indiana

A groundbreaking ceremony has been held for a new electric vehicle (EV) battery giga factory in Kokomo, Indiana. The project is developed by Stellantis in...

Construction begins on the Kennedy Expressway, Chicago

The next week will see the start of a three-year construction project on the Kennedy Expressway. Up until July, certain sections of the two...

Dosti Realty Launches The Dosti Eden Residential Project

Leading real estate builder and developer in Mumbai and Thane Dosti Realty, has launched phase 2 of the Dosti Eden Residential Project. Similar to the...


Please enter your comment!
Please enter your name here