Section: ENERGY TRANSITION · June 18, 2026 · No comments | Tags: Energy Transistion, feature, featured
Norwegian developer Scaec has reached financial close and commenced construction of 120 MW “Sidi Bouzid II” solar power plant in Tunisia.
The total capital expenditure (capex) for the project is estimated at $111Million and will be financed by a combination of non-recourse debt and equity, with a leverage of approximately 70%. Scatec will own 50% of the project and Aeolus the remaining 50%. The senior Lenders for the projects are the European Bank of Reconstruction and Development (EBRD) and European Investment Bank (EIB).
The project’s Power Purchase Agreement PPA was awarded in December 2024 through a government tender designed to support Tunisia’s ambitious renewable energy targets and enhance the country’s energy security.
Sidi Bouzid II has been developed in partnership with Aeolus SAS (Aeolus), part of the Japanese conglomerate Toyota Tsusho Group.
Scatec will provide Engineering, Procurement & Construction (EPC), Asset Management (AM) and Operations & Maintenance (O&M) services with an EPC scope of approximately 75% of capex. Sidi Bouzid II is expected to reach Commercial Operation in the second half of 2027.
The project will generate 276 GWh of electricity annually. It is expected to reduce CO2 emissions by nearly 107,000 tonnes each year.
“Sidi Bouzid II is our third project starting construction in Tunisia and reinforces our partnership with Aeolus and our position in Tunisia, with strong fundamentals for renewables and strong growth potential”, says Terje Pilskog, CEO of Scatec.
95% of electricity generation in Tunisia is currently based on natural gas of which more than 60% is imported, and Tunisia has a target to reach 35% of generation from renewable sources by 2030.
Scatec believes that “Renewables contribute to reducing the costs of generation as well as increasing energy independence”.
Sidi Bouzid II is supported by grant funding from the EU Neighbourhood Investment Platform (NIP) and guarantees from the European Fund for Sustainable Development Plus (EFSD+).
No comments yet.
All fields marked (*) are required
No.12A Animasahun Street, Off Bode Thomas Street
Surulere, Lagos, Nigeria.
For subscription details, email us at: subscriptions@africaoilgasreport.com
Phone: +2348038882629+234-803 652 5979 , +234-8028354297
© 2026 Festac News Press Ltd..
You must be logged in to post a comment.