Project Description
This summary describes a programmatic approach (hereafter referred to as, ‘the Tunisia Renewable IPPs Program’ or just ‘the Program’) to provide guarantees to multiple Guarantee Holders (GHs) including Voltalia S.A., and other investors yet to be identified, to support their equity/quasi-equity/shareholder loan investments in individual solar and wind (including battery energy storage systems (BESS)) Independent Power Producers (IPPs) awarded under the Government of Tunisia’s (GoT’s) renewable energy concession regime (RE Concession Regime), with coverage that may include all or a combination of Transfer Restriction and Currency Inconvertibility (TR), Expropriation (EXP), War and Civil Disturbance (WCD), and Breach of Contract (BOC). The coverage for each individual project under the Program will be for a period of up to 20 years. Aggregate amount under the Program is up to US$ 300 million.
The Program supports Tunisia’s current and future solar and wind IPPs tendered under the RE Concession Regime. Each project entails the development, financing, construction, operation, and maintenance of a solar or wind power plant (potentially including BESS), along with potential interconnection facilities and associated auxiliary equipment. Projects under the Program are at different stages of development with an estimated 5+ years investments to be made.
Environmental Categorization
The Project has been categorized as category A under the MIGA’s Policy on Environmental and Social Sustainability. The environmental and social review summary (ESRS) will be disclosed at least 60 days prior Board approval.
The ESRS can be accessed below:
Development Impact
The key expected benefits include improving affordability through reduced generation costs, climate mitigation benefits through GHG emissions avoidance, and positive demonstration effects of the IPP Program.
