Norway-based Scatec ASA and Japan-based Aeolus SAS, a Toyota Tsusho Group subsidiary, have achieved financial closure for two 60 MW solar projects in Sidi Bouzid and Tozeur, Tunisia, collectively 120 MW. Scatec ASA will oversee construction and project management with a 51% stake, while Aeolus SAS holds 49%, according to Scatec. This partnership follows a 20-year PPA granted to Scatec by Tunisian utility STEG in 2019, with a possible 10-year extension. The €79 million project is financed through non-recourse project finance debt, concessional loans, and equity. According to Scatec, Japanese carbon credit funding will reduce the equity requirement to approximately 15%.
Scatec leads Tunisian 120 MW solar projects development
Scatec will lead construction and management of the solar projects in Tunisia, holding a 51% stake while Aeolus SAS holds 49%. (Image Credit: Scatec)
Scatec has secured EUR 25 million from IFU, alongside equity and non-recourse debt, for its USD 85 million project financing. (Image Source: Scatec ASA)
EliTe Solar launched its 5 GW PV project in Egypt’s TEDA Suez Zone, set to begin production by September 2025. (Image Source: PRNewswire)
Part of SECI’s 2 GW ISTS initiative, the project will deliver four hours of peak power daily for 25 years. (Image Credit/Source: Pixabay/Pexels)
Ethical Power Italia’s first EPC projects in Italy, two solar farms for Encavis AG, will generate 28 GWh annually. (Image Credit/Source: TomFisk/Pexels)