French independent renewable energy producer Qair has secured debt financing of EUR 7.8 million (USD 8.3 million) to build and operate two solar farms that will add 10 MW to Tunisia’s electricity generation capacity.
The financing will be extended by the European Bank for Reconstruction and Development (EBRD), the Paris-based company said on Monday.
The new capital will be allocated to the construction of the Feriana photovoltaic power plants in the town of Feriana, in the governorate of Kasserine, in west-central Tunisia, as well as the grid connection infrastructure for a nearby substation of the Société tunisienne de l’électricité et du gaz (STEG). The capacity will be installed on a site leased for 25 years.
Qair owns 100% of the first project, while the second is a joint venture with oil and gas exploration company Mazarine Energy. After the construction phase, both projects will be operated by the French company.
In Tunisia, Qair currently has a renewable energy development pipeline of almost 900 MW. The company has been active in this North African country since 2015. In collaboration with STEG, Qair commissioned Tunisia’s first floating solar power plant on Lake Tunis in 2022.
TunisianMonitorOnline
