French renewable energy company Qair has secured EUR 7.8 million in debt financing from the European Bank for Reconstruction and Development (EBRD) to advance solar power initiatives in Tunisia. This financing marks a pivotal stride towards bolstering the country’s renewable energy infrastructure, particularly in the solar sector. With this injection of capital, Qair plans to construct and operate two solar parks, collectively contributing 10 MW to Tunisia’s burgeoning renewable energy capacity.
The focal point of this investment is the development of the Feriana photovoltaic (PV) plants located in the Kasserine Governorate, strategically positioned to harness solar energy in a region ripe for sustainable development. Moreover, a portion of the funding will be channeled into establishing essential grid-connection infrastructure, ensuring seamless integration of the generated power into the national grid. This commitment underscores Qair’s dedication not only to expanding renewable energy capacity but also to fostering the necessary infrastructure for its efficient utilization.
The significance of these projects extends beyond immediate power generation. They are poised to operate for a span of 25 years, underscoring the long-term commitment to sustainable energy solutions in Tunisia. By securing a site lease for this duration, Qair demonstrates its confidence in the viability and longevity of solar energy as a key component of Tunisia’s energy landscape.
Furthermore, Qair’s collaboration with Tunisian Company for Electricity and Gas (STEG) highlights the importance of partnerships between international entities and local stakeholders in driving sustainable development. By working in tandem with STEG, Qair aims to maximize the impact of its projects, leveraging local expertise and resources to ensure their success.
Notably, in partnership with STEG, Qair achieved a milestone in 2022 with the inauguration of Tunisia’s first floating solar power plant on Tunis Lake, showcasing innovative approaches to harnessing renewable energy sources.
Qair’s securing of debt financing from EBRD represents more than just a financial transaction; it symbolizes a collective effort to advance sustainable energy initiatives in Tunisia. Through the development of solar projects and strategic partnerships, Qair continues to play a pivotal role in shaping the country’s renewable energy landscape, driving progress towards a more sustainable future.
