AMEA Power to set up 120MW Solar Power Plant in Tunisia
London, 27 September, 2023, (Oilandgaspress) – AMEA Power, one of the fastest growing renewable energy companies based in the UAE, announced it has reached financial close on its 120MW solar PV project in Tunisia. When commissioned, the US$86 million project, will be the company’s first operational asset in the country.
His Excellency, Ahmed Hachani, Head of Government of Tunisia; Ms Ahlem Beji Sayeb and Mr. Belhassen Chiboub, respectively Head of Cabinet and General Director of Electricity and Renewable Energies at the Ministry of Industry, Mines and Energy; Her Excellency Dr. Iman Al-Salami, Ambassador of the United Arab Emirates to the Republic of Tunisia; Mr. Hussain Al Nowais, Chairman of AMEA Power; and Nicolas Felix Souche, Regional Industry Manager, Infrastructure, North Africa and the Horn of Africa at the International Finance Corporation (IFC) and other dignitaries attended the ceremony, which took place at the government headquarters in Al Qasba.
The solar plant is being implemented by Kairouan Solar Plant, a project company registered in Tunisia and fully owned by AMEA Power, and will be located in Metbassta, Kairouan governorate. The project is being financed by IFC, a member of the World Bank Group, and the African Development Bank (AfDB).
The project was awarded to AMEA Power in December 2019 further to an international tender program launched by the Ministry of Industry and SMEs in Tunisia. The Concession Agreement and the Power Purchase Agreement were signed in June 2021 and ratified by the government of Tunisia in May 2022.
This is the first solar project to reach financial close under the concession regime in Tunisia. The concession regime covers projects over 10MW for solar PV, awarded through a competitive bidding process. The solar project is being built under a Build-Own-Operate (BOO) model and will generate 222 GWh of clean energy per year, enough to power more than 43,000 households. The solar plant is expected to be commissioned by mid-2025 and will avoid 117,000 tonnes of CO2 over the course of its life.
As part of AMEA Power’s “Community Investment and Development Program”, the company is working closely with the local community on planned initiatives aligned with the United Nations’ Sustainable Development Goals.
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