Media ININ Economy We Trust
Dubai on September 27
The Emirati company EMEA Power – one of the fastest growing renewable energy companies in the Middle East – was able to achieve a successful financial close amounting to 86 million US dollars (equivalent to 316.5 million dirhams) with the aim of establishing a solar energy production plant in the Tunisian city of Kairouan with a capacity of up to 120 megawatts to enhance The country’s development towards dependence on renewable energy sources.
During the first quarter of last year, the Tunisian government awarded the Emirati company Aimea Power a contract to build a station to generate electricity from solar energy in the city of Kairouan according to the build, operate and own (BOO) system to produce 120 megawatts of electricity. It also signed another agreement to purchase the station’s electricity production during The next twenty years.
The ceremony to announce the financial closure agreement was attended by His Excellency Ahmed Al-Hashani, Prime Minister of Tunisia, Mrs. Ahlam Baji Al-Sayeb, Chief of Staff of the Ministry of Industry, Mines and Energy, Belhassan Shayboub, Director General of Electricity and Energy Transition in the Ministry of Industry, His Excellency Dr. Iman Al-Salami, UAE Ambassador to the Republic of Tunisia, and His Excellency Hussein. Jassim Al Nowais, Chairman of the Board of Directors of EMEA Power, Nicola Felix, Regional Industry Director for Infrastructure, North Africa and the Horn of Africa at the International Finance Corporation (IFC), and a number of dignitaries.
The Kairouan Energy Company, which is wholly owned by AMEA Power and is headquartered in the city of Mtabasta in Kairouan Province, will undertake the construction, management and operation of these power plants, while the project will be financed by the International Finance Corporation (IFC), which is part of the World Bank Group, the African Development Bank and the Agency. Financing small projects, as the station is expected to provide clean energy to about 43,000 Tunisian families, and it will also contribute to reducing carbon emissions, by about 117,000 metric tons annually, which will lead to reducing the environmental footprint in Tunisia.
Tunisia plans to increase the share of solar energy in the electricity mix, by developing 3.8 megawatts of installed solar energy by 2030, raising the share of renewable energy from 3% currently to 35% by the end of the current decade.
The Tunisian Prime Minister said: “The Tunisian government confirms its firm commitment to the successful development of the 120 MW Kairouan solar photovoltaic project, which represents an important step forward in the country’s energy transition.”
For his part, His Excellency Hussein Jassim Al Nowais said: “We are pleased to have achieved the successful financial closing of the solar energy station with a production capacity of up to 120 megawatts in Tunisia, which is our first project in the sisterly Republic of Tunisia,” explaining that the success of the financial closing clearly reflects the confidence of the leading global financial institutions. With the strategy of the “Amea Power” company, which enjoys widespread confidence in global markets, it also confirms confidence in the future of the investment climate in Tunisia.
He stressed that this project is an important achievement for the Tunisian government and for the company alike, as it represents the largest solar energy project that has been fully developed in the country so far, pointing out EMEA Power’s commitment to supporting the Tunisian government’s move to transition to clean energy, pointing to the essential role that partners can play. The private sector in the energy transition.
For her part, Haila Sheikh Rouha, IFC’s Regional Vice President for the Middle East, Central Asia, Turkey, Afghanistan and Pakistan, said: “This project is in line with our strategy to enable South-South investments, including from the Gulf Cooperation Council countries to emerging markets.” .
For his part, Sergio Pimenta, IFC Vice President for Energy Sector Affairs, said: “This ambitious renewable energy project will not only provide more affordable, clean energy to the people of Tunisia, but will help Tunisia achieve its energy goals and attract more private investment to the projects.” “The green future, expressing his confidence in the performance of AMEA Power and its ability to contribute to supporting the Tunisian government’s orientations towards renewable energy.”
It is noteworthy that the Emirati company AMEA Power, which was established in 2016, is working to expand its investments in the fields of wind energy, solar energy, energy storage, green hydrogen and water desalination, which reflects its long-term commitment to the global energy transition.
The company has projects in operation and under implementation with a total capacity of 1.45 gigawatts, while it has confirmed future projects to produce about 5 gigawatts tough projects in 20 countries.
