AfDB Approves $27 Million Loan Package to Co-Fund AMEA Power’s 100MW Solar Energy Farm in Tunisia

The African Development Bank has approved a considerable loan package of $27 million and €10 million to co-fund AMEA Power’s 100MW solar energy farm in El Metbassta, Kairouan North region, Tunisia. This greenfield project follows the ‘build, own and operate’ (BOO) agreement and is one of the five renewable projects approved by Tunisia in 2019. The AfDB board will offer a total of $10 million and €10 million for this initiative, with an additional sum of $17 million from the SEFA Fund (Sustainable Energy Fund for Africa). Supporting this project are the International Finance Corporation from the World Bank Group, as well as the Clean Technology Fund. Dr. Kevin Kariuki, Vice-president of Power, Energy, Climate and Green Growth at the African Development Bank commented: “The 100MW Solar PV Project will be a groundbreaking moment for other grid-based solar and wind projects currently being developed in Tunisia. Furthermore, it serves as an ideal example of bankability for all renewable energy projects in this country given its agreements were settled despite unfavorable conditions”.

Summary

• The African Development Bank has approved a $27m and €10m loan package to co-finance a AMEA Power’s 100MW solar farm in Kairouan, Tunisia.
• The project entails the design, construction, and operation of a greenfield solar photovoltaic plant under a build, own and operate (BOO) scheme.
• Additional financing will come from the International Finance Corporation (IFC) of the World Bank Group and the Clean Technology Fund (CTF).

What is the total financial package approved by the African Development Bank for AMEA Power’s 100MW solar farm in Kairouan, Tunisia?

The total financial package approved by the African Development Bank for AMEA Power’s 100MW solar farm in Kairouan, Tunisia is $27m and €20m.

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Picture source: Juan Ordonez