Tunisia Solar IPPs
Project Description
This summary describes a programmatic approach for guarantees (the Program) to Voltalia S.A., and/or any of its group companies, and/or other investors yet to be identified (the Guarantee Holders) for each of their equity, quasi-equity, shareholder loan investments in individual solar Independent Power Producers (IPPs) in Tunisia awarded under the 500MW solar concession launched in May 2018 (Round 1 Concession) and 1,100MW solar concession launched in December 2022 (Round 2 Concession, and together, the Tunisia Solar Concession Program), 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 IPPs tendered under the Tunisia Solar Concession Program. Each project entails the development, financing, construction, operation, and maintenance of a solar power plant, along with potential interconnection facilities and associated auxiliary equipment. Projects under the Program are at different stages of development with an estimated 5+ 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.