What Happened

Scatec secured $110M financing for its 120MW Sidi Bouzid II solar project in Tunisia, developed jointly with Aeolus SAS (Toyota Tsusho Group). The European Bank for Reconstruction and Development and European Investment Bank provided funding, with construction underway for 2027 completion.

Who Is Affected

Scatec strengthens its Tunisian foothold with this third project. Aeolus SAS deepens its renewable energy partnership. STEG (Tunisian utility) commits to 25-year PPA as the country aims for 35% renewable energy by 2030.

Market Impact

• Tunisia currently relies on 95% gas-fired generation
• 60% of gas supplies are imported
• Solar projects directly address energy independence goals
• EBRD/EIB involvement signals bankability in North African renewables

What to Watch

Scatec's EPC contract covers 75% of project capex - monitor subcontracting opportunities. Tunisia's 2030 renewable target will drive follow-on projects, with Scatec/Aeolus likely frontrunners for future tenders.