In a significant move towards boosting Tunisia’s renewable energy sector, Scatec ASA has signed a 25-year power purchase agreement (PPA) with the state-owned utility Société Tunisienne de l’Electricité et du Gaz (STEG) for a 120 MW solar power project. This agreement marks a significant milestone in Tunisia’s National Energy Strategy, which aims to generate 30% of electricity from renewable sources by 2030.
Scatec Solar Tunisia Project Overview and Impact
The 120 MW solar plant will be co-owned by Scatec, Africa50, and local partner TuNur. Scatec will hold a 51% stake in the project, with Africa50 holding 30% and TuNur 19%. This project is part of Tunisia’s broader initiative to diversify its energy mix and reduce reliance on fossil fuels, aligning with its goals for sustainable development and energy security.
The solar plant is expected to make a substantial impact on Tunisia’s energy landscape, generating approximately 228 GWh of clean energy annually. This will significantly reduce carbon emissions, with an estimated 116,000 tonnes of CO2 avoided each year. The project will also contribute to the country’s economic growth, creating jobs and stimulating investment in the renewable energy sector.
Financing and Construction of Scatec Solar Tunisia Project
The project is estimated to cost $100 million and is expected to reach financial close in the fourth quarter of 2024. Construction is anticipated to begin shortly thereafter, with the plant expected to be operational by 2026. This timeline ensures that the project will start contributing to Tunisia’s energy needs within the next few years, supporting the country’s transition to a greener economy.
Strategic Partnerships Behind Scatec Solar Tunisia
Africa50, a pan-African infrastructure investment platform, plays a crucial role in the project’s financing. The organization’s involvement underscores the importance of strategic partnerships in advancing renewable energy projects across the continent. Africa50’s participation is expected to facilitate the mobilization of additional funding, ensuring the project’s financial viability.
Scatec Solar Tunisia and Its Role in the Energy Transition
Scatec, a leading renewable energy solutions provider, has a strong track record of developing and operating renewable energy projects worldwide. The company’s involvement in this project highlights its commitment to supporting Tunisia’s energy transition. Scatec’s expertise in solar power development will be instrumental in ensuring the project’s success, from construction to operation.
Tunisia’s Renewable Energy Goals with Scatec Solar Tunisia
Tunisia’s National Energy Strategy aims to significantly increase the share of renewables in the country’s energy mix. The government has set a target of 30% renewable energy by 2030, with solar power playing a key role in achieving this goal. The 120 MW solar plant is one of several projects planned to help Tunisia meet its renewable energy targets and reduce its dependence on fossil fuels.
The signing of the PPA between Scatec and STEG marks a major step forward in Tunisia’s renewable energy journey. The 120 MW solar project will not only help the country meet its ambitious energy goals but also serve as a model for future renewable energy initiatives in the region. With the support of international partners like Scatec and Africa50, Tunisia is well-positioned to become a leader in renewable energy in North Africa.
The announcement of the PPA signing has been met with optimism from stakeholders, who see it as a clear indication of Tunisia’s commitment to sustainable energy development. The project’s success will depend on continued collaboration between the government, Scatec, Africa50, and local partners, ensuring that the solar plant is completed on time and begins contributing to Tunisia’s renewable energy capacity by 2026.
For more insights into Tunisia’s solar panel manufacturing and ongoing renewable projects, you can explore the Tunisia Solar Panel Manufacturing Market Insights Report. This report outlines additional solar farms planned or under development in Tunisia, highlighting the nation’s ambitious renewable energy targets.