PARIS – Bracewell AARPI advised the European Bank for Reconstruction and Development (EBRD) on the financing of the development and construction of two greenfield solar photovoltaic power plants to be located in Feriana (Kasserine Governorate), Tunisia.
These projects, with a total capacity of 20 MWp, mark a significant milestone as among the first renewable energy independent power producer (IPP) projects in Tunisia to be developed under the authorization scheme, project-financed and successfully reach financial close. By adding 20 MW of renewable generation capacity to Tunisia’s power system, they will help reduce the country’s reliance on thermal power, increase the share of renewable energy in its energy mix and support national CO2 emissions reduction targets. Additionally, these projects play a key role in advancing Tunisia’s goal of achieving 35 percent renewable energy by 2030 and opening the market for future development.
Anne Lapierre, managing partner of Bracewell’s Paris office, commented: “We are delighted to have been part of this journey. Despite the challenges posed by market conditions and regulatory constraints in Tunisia, the perseverance and collaboration of all parties involved enabled them to achieve financial close and secure the financing of these projects. The successful completion of this financing sets an important precedent, paving the way for similar projects and encouraging other lenders to support projects developed under the authorization scheme in Tunisia.”
The Bracewell team was led from Paris and included:
Partners: Anne Lapierre and Olivia Caddy
Senior Associates: Adnen Ben Naser, Marie Zelazko and Rory Wilson
Associates: Diane Dusserre and Sameer Ahuja
