M&E advised Scatec ASA and Aeolus SAS (Toyota Tsusho Group) on the financing of a large scale solar projects in Tozeur and Sidi Bouzid, Tunisia
M&E has advised Scatec ASA, a leading renewable energy provider, and Aeolus SAS, part of the Japanese conglomerate Toyota Tsusho Group on the development and financing of a 100 MWac (120 MW peak) photovoltaic solar power plants (each 60 MW) in Tozeur and Sidi Bouzid, Tunisia, owned by their Tunisian subsidiaries. The projects, which led to the signing of concession agreements with the Tunisian government and a power purchase agreement with Société Tunisienne de l’Électricité et du Gaz (STEG), are part of a development plan for large-scale solar projects in Tunisia and areone of five projects awarded in 2019 following an international call for tenders. The Tunisian government plans to increase the share of renewable energies in the country’s total energy resources to 35% by 2030. To achieve this objective, the government launched new calls for tender at the beginning of 2023 for the development of several renewable energy projects (wind and photovoltaic) with a combined capacity of 1,700 MW. The projects will be among the first large-scale privately financed solar projects in Tunisia and one of the largest public-private partnership infrastructure projects in the country in the last ten years. The M&E team comprised Ahmed Meziou, partner, Malek Jaffeli, associate, Siwar Atrous, associate, Yesser Kortoba, associate and Rahma Ben Youssef, associate. Scatec ASA and Aeolus SAS were also advised by Trinity. The lenders were advised by A&O Shearman and Ferchiou & Associés. LINK ->