The International Bank for Reconstruction and Development revealed its financing to build a solar power plant with a production capacity of 10 megawatts in the Feriana region in Tunisia to support renewable energy production.

The financing includes a loan of €3.9 million from the European Bank for Reconstruction and Development, and approximately €1 million in concessional financing from Finland.

This comes in light of the high-impact partnership in the field of climate action, which is affiliated with the European Bank for Reconstruction and Development.

This project is considered one of the first projects implemented under the new regulatory framework for renewable energy projects in Tunisia, and the company was awarded after a public tender.

The project aims to promote gender equality by supporting the integration of women into the renewable energy sector in Tunisia.

The European Bank for Reconstruction and Development has been a major partner in developing the renewable energy sector in Tunisia for seven years, which represents a major leap for Tunisia towards fulfilling its pledges to increase electricity production from renewable energy.

This financing package, amounting to about 3.9 million euros, is provided to Central Solaire Feriana B, which specializes in the field of renewable energy.

The project, which consists of a solar power plant, is financed under the European Bank for Reconstruction and Development's Southern and Eastern Mediterranean Private Sector Renewable Energy Framework, and is expected to reduce carbon dioxide emissions by 8,560 tons annually.

Tunisia looks forward to continuing to work with the European Bank for Reconstruction and Development. With the aim of promoting sustainable development as well as creating a more orderly future that is consistent with Tunisia’s goal of reaching 30% of renewable energy production by 2030.

QAIR is a well-established European renewable energy company that develops and finances – in addition to operating and owning – power generation plants. It has a portfolio of 1.4 gigawatts of operational capacity, in addition to projects under construction, and is present in many of the economies in which the EBRD operates.

The European Bank for Reconstruction and Development invested more than 2.2 billion euros in 70 projects, in addition to providing support to more than 1,200 small and medium enterprises through technical assistance funded by the European Union.