{"id":85906,"date":"2024-08-07T00:00:00","date_gmt":"2024-08-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/08\/07\/ebrd-to-provide-eur-25-mn-in-funding-for-aeolus-scatecs-tunisian-solar-projects\/"},"modified":"2024-08-07T00:00:00","modified_gmt":"2024-08-07T00:00:00","slug":"ebrd-to-provide-eur-25-mn-in-funding-for-aeolus-scatecs-tunisian-solar-projects","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/08\/07\/ebrd-to-provide-eur-25-mn-in-funding-for-aeolus-scatecs-tunisian-solar-projects\/","title":{"rendered":"EBRD to provide EUR 25 mn in funding for Aeolus + Scatec\u2019s Tunisian solar projects"},"content":{"rendered":"

We have financial details on Scatec + Aeolus\u2019s solar project in Tunisia: <\/strong>The European Bank for Reconstruction and Development (EBRD) and the French development agency, Proparco, are lending Japan\u2019s Aeolus \u2014 a subsidiary of Toyota\u2019s investment arm Toyota Tsusho Group \u2014 and Norwegian renewables developer Scatec EUR 25 mn for the construction of two 60 MW solar power plants in Tunisia, according to a press release.<\/a> <\/p>\n

The breakdown:<\/strong> The EBRD's financing package includes a EUR 12.5 mn loan, a EUR 8.2 mn concessional tranche from the Bank\u2019s <\/span>Clean Technology Fund<\/a> (CTF), and another EUR 4.6 mn tranche from its <\/span>Global Environment Facility<\/a>.<\/span><\/p>\n

Japan is aiding Africa\u2019s green energy transition:<\/strong> The solar plants, also supported by Japan's Joint Crediting Mechanism (JCM) program, aim to provide low-cost green electricity and are expected to cut annual CO2 emissions by up to 108k tons once operational, according to the statement. Aeolus was founded as \u201ca joint venture to promote renewable energy business in Africa,\u201d and this marks its first investment since the company was established in March. <\/p>\n

ICYMI- Aeolus acquired 49% ownership of the two projects earlier this week,<\/strong> after it signed a partnership agreement with Scatec to jointly develop<\/a> and own the latter\u2019s EUR 79 mn Sidi Bouzid and Tozeur solar projects. <\/strong>The tender for the plants entered its final stages<\/a> back in May. <\/p>\n","protected":false},"excerpt":{"rendered":"

The projects are expected to cut annual CO2 emissions by up to 108k tons<\/p>\n","protected":false},"author":1,"featured_media":85907,"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":[84],"tags":[83,11,330,42,294],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-85906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseclimate","tag-scatec","tag-solar-energy","tag-tunisia","wpautop","entry"],"acf":{"mongo_id":"4ab3e8e6-a02c-4355-8897-16bb5cd0a902","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/287.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EBRD to provide EUR 25 mn in funding for Aeolus + Scatec\u2019s Tunisian solar projects","related_issue":[85899],"teaser":"The projects are expected to cut annual CO2 emissions by up to 108k tons","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.ba6ec0b7-9b77-41fd-bd60-5bf8ef762327.mp3"},"yoast_head":"\nEBRD to provide EUR 25 mn in funding for Aeolus + Scatec\u2019s Tunisian solar projects - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2024\/08\/07\/ebrd-to-provide-eur-25-mn-in-funding-for-aeolus-scatecs-tunisian-solar-projects\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EBRD to provide EUR 25 mn in funding for Aeolus + Scatec\u2019s Tunisian solar projects\" \/>\n<meta property=\"og:description\" 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