AMEA Power raises finance for 100MW Tunisian solar farm

• African Development Bank approves loans for Kairouan project

The African Development Bank has approved a $27m and also EUR10m loan package to co-finance a AMEA Power's 100MW solar farm in Kairouan, Tunisia.

The project involves the layout, building and construction, and also operation of a greenfield solar photovoltaic or pv plant under a build, own and also operate (BOO) scheme.

The project is located in El Metbassta, Kairouan North area, concerning 150 km south of the Tunisian capital, Tunis. It is among five eco-friendly projects granted in 2019 by the federal government.

The AfDB board approval covers $10, and another EUR10m from the bank, and $17m concessional funding from the Sustainable Energy Fund for Africa (SEFA), a special multi-donor fund handled by the bank.

Added funding will originate from the International Finance Corporation (IFC) of the World Bank Group and also the Clean Technology Fund (CTF).

Dr. Kevin Kariuki, Vice-president of Power, Energy, Climate and also Green Growth at the African Development Bank, stated: "The 100MW Kairouan Solar PV Project will not just be a pioneer for various other grid-based solar as well as wind independent power projects currently under development in Tunisia yet also a benchmark for bankability of renewable resource projects in the country as it is underpinned by durable and also sustainable agreements bargained over the last 3 years under extremely onerous market conditions."