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Published on 06/30/2026 at 10:05 pm EDT
2026-07-01
Toyota Tsusho Corporation (“Toyota Tsusho”) announced today that through its group company AEOLUS SAS (“AEOLUS”), which is engaged in renewable energy business in Africa, it will participate in an independent power producer (IPP) project to construct, own, operate 100 MW solar power plants and sell electricity in the Republic of Tunisia (“Tunisia”).
This will be the Toyota Tsusho Group’s third solar photovoltaic project in the country.
Background
Tunisia relies on imports for most of its energy sources, such as oil and natural gas, with thermal power generation accounting for the majority of domestic power generation capacity. The Government of Tunisia has an ambition to increase the share of renewable energy to 35% of total power generation by 2030 and is running a renewable energy procurement program to achieve this target.
As part of its growth strategy to expand its renewable energy business in Africa, the Group aims to increase its power generation capacity from the current 1 GW to 3 GW by 2030. Toyota Tsusho is participating in this project as a part of its efforts to help expand the adoption of renewable energy at both Toyota Tsusho and Tunisia.
Project Summary
This project involves the construction, ownership, and operation of a 100 MW solar power plant in the Sidi Bouzid governorate of Tunisia. It will be carried out by SCATEC KHOBNA PV POWER SARL, a company jointly funded by AEOLUS and Scatec ASA (“Scatec”), a renewable energy provider from Norway.
The project is expected to reach commercial operation in the second half of 2027, and the electricity generated will be sold to the Tunisian Company of Electricity and Gas for 25 years.
Through AEOLUS, Toyota Tsusho has already participated in two solar power projects in Tunisia. Upon completion of the Project, the total capacity in the country is expected to reach 200 MW.
The project is being financed through funds provided by the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) and also benefits from support*1 provided by the European Union through an EFSD+ guarantee and EU Neighbourhood Investment Platform grant.
In addition, the Project has been selected under Subsidy Programme for the Joint Crediting Mechanism (JCM) Facility Introduction*2 by Ministry of the Environment, Japan in FY2024.
AEOLUS has secured equity insurance support from the Multilateral Investment Guarantee Agency (MIGA)*3 of the World Bank Group.
The Toyota Tsusho Group promotes carbon neutrality to pass on a better Earth to the children of the future. In Africa as well, under the key message “for the future children of Africa,” Toyota Tsusho will continue to promote green businesses that contribute to solving social issues and achieving economic growth.
– August 6, 2024 release: Participation in 100MW Solar Photovoltaic IPP Projects in Tunisia
(https://www.toyota-tsusho.com/english/press/detail/240806_006449.html)
– April 24, 2026 release: 100MW Solar Power Plant Completed in Tunisia
(https://www.toyota-tsusho.com/english/press/detail/260424_006829.html)
The information in this release is current as of the date of announcement.
Please note that information may change after the date of announcement. Thank you in advance for your understanding.
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Disclaimer
Toyota Tsusho Corporation published this content on July 01, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on July 01, 2026 at 02:04 UTC.
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