{"id":85867,"date":"2024-08-06T00:00:00","date_gmt":"2024-08-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/08\/06\/aeolus-acquires-a-49-stake-in-scatecs-tunisian-solar-projects\/"},"modified":"2024-08-06T00:00:00","modified_gmt":"2024-08-06T00:00:00","slug":"aeolus-acquires-a-49-stake-in-scatecs-tunisian-solar-projects","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/08\/06\/aeolus-acquires-a-49-stake-in-scatecs-tunisian-solar-projects\/","title":{"rendered":"Aeolus acquires a 49% stake in Scatec\u2019s Tunisian solar projects"},"content":{"rendered":"

Scatec + Aeolus partner <\/strong>on Tunisian solar developments: <\/strong>Japan\u2019s Aeolus<\/a> \u2014 a subsidiary of Toyota\u2019s investment arm Toyota Tsusho Group \u2014 has signed a partnership agreement with Norwegian renewables developer Scatec<\/a> to jointly develop and own the latter\u2019s EUR 79 mn Sidi Bouzid and Tozeur solar projects in Tunisia, according to a statement<\/a>. Under the agreement, Aeolus has acquired a 49% ownership stake in the projects. The tender for the plants entered its final stages<\/a> back in May. <\/p>\n

The details:<\/strong> Scatec \u2014 which was awarded a 20 year power purchase agreement with the option to extend 10 years from the Tunisian state utility firm Soci\u00e9t\u00e9 Tunisienne de l\u2019Electricit\u00e9 et du Gaz \u2014 will begin to construct the projects and will handle Engineering, Procurement & Construction (EPC), Asset Management, and Operations & Maintenance (O&M) services.<\/span><\/p>\n

The solar project reached financial close: <\/strong>At the same time, the two solar projects \u2014 which have a capacity of 60 MW each \u2014 have reached financial close, Scatec said, adding that the funding will come via \u201cnon-recourse project finance debt, concessional loans, and equity for the partners.\u201d The main lenders are the European Bank of Reconstruction and Development (EBRD) and the French Development Agency\u2019s Soci\u00e9t\u00e9 de Promotion et de Participation pour la Coop\u00e9ration \u00c9conomique<\/a> (Proparco), with support from the World Bank\u2019s Clean Technology Fund<\/a> and the Global Environment Facility<\/a>. <\/p>\n

Aeolus\u2019 will help the project unlock more funding:<\/strong> With Aeolus\u2019s participation, the project has been selected to receive carbon credit funding by Japan\u2019s Ministry of Environment, the statement said. The funding \u2014 which will be provided through the ministry\u2019s Financing Program for Joint Crediting Mechanism \u2014 will be allocated once commercial operations begin, effectively reducing the equity partners\u2019 funding needs to around 15%.<\/p>\n","protected":false},"excerpt":{"rendered":"

The pair will jointly develop the Sidi Bouzid and Tozeur solar projects<\/p>\n","protected":false},"author":1,"featured_media":85868,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2016],"tags":[11,79,330,42,294],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-85867","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-enterpriseclimate","tag-ma-watch","tag-scatec","tag-solar-energy","tag-tunisia","wpautop","entry"],"acf":{"mongo_id":"274e119b-16b4-40d7-8dd1-559acce0f5af","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/439.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Aeolus acquires a 49% stake in Scatec\u2019s Tunisian solar projects","related_issue":[85860],"teaser":"The pair will jointly develop the Sidi Bouzid and Tozeur solar projects","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.8507daf2-e40e-432a-875a-acbb16801293.mp3"},"yoast_head":"\nAeolus acquires a 49% stake in Scatec\u2019s Tunisian solar projects - 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