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Supporting renewable energies in Tunisia

Project

SCATEC2_Tozeur
Signature date
Location
Tunisia
Financing tool
Loan
Financing amount (Euro)
7186535
Customer
Tozeur SPV
Type of customer
Company
Country of headquarters
Tunisia
Project number
PTN113602
Environmental and social ranking
B+
Climate co-benefits
Project with climate co-benefits
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Proparco has allocated two loans to contribute to the development of renewable energy projects in Tunisia.

Client presentation

A consortium composed of the majority shareholder (51%) Scatec ASA, a Norwegian sponsor specialized in renewable energies, and the minority shareholder (49%) Aeolus SAS, a subsidiary of the Japanese Toyota Tsusho Corporation.

Project description

Proparco is contributing to financing two solar power plant projects, in Sidi Bouzid and Tozeur (each 60 MW), in Tunisia.

Project impact

The expected impacts of this financing are as follows:

  • This financing will create a total of 5 direct full-time jobs for these two projects, and support 1,880 indirect jobs in the value chain over the next 5 years. These employees will also benefit from the high E&S standards of the Norwegian sponsor Scatec in terms of respecting occupational health and safety conditions
  • The contribution of this financing to avoided emissions amounts to 104,000 tCO2eq per year for both these projects, or a total of 2,08 MtCO2eq over the lifespan of the two projects
  • This financing has 100% of climate mitigation co-benefits
  • Over the next 5 years, these two projects will provide improved access to electricity for 60,418 potential new beneficiaries

The project will thereby contribute to the achievement of several SDGs: 7 (Affordable and clean energy), 8 (Decent work and economic growth) and 13 (Climate action).