Sidi Bouzid R2 (EBRD-56184)

Regions
  • Middle East and North Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Tunisia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Governorates of Sidi Bouzid and Gabes
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 10, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Scatec ASA, Aeolus ASA
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 37.21 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 32
Converted using 2025-08-06 exchange rate.
Loan Amount (USD)
$ 37.21 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 32
Converted using 2025-08-06 exchange rate.
Project Cost (USD)
$ 107.78 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 92.7
Converted using 2025-08-06 exchange rate.
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 6, 2025

Disclosed by Bank Aug 6, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the EBRD, the project consists of the provision of senior debt financing to fund the construction and operation of a 100 MWAC solar photovoltaic plant and its associated transmission infrastructure, located in the governorate of Sidi Bouzid in Tunisia.

The Project will support private sector participation in the Tunisian power sector and increase the share of renewable energy in the energy mix in line with the nationally declared targets, bringing a strong demonstration effect for the energy transition in a fossil fuel dominated economy. The Project will also support the development of a gender-responsive Skills Development Strategy and implement an outreach campaign focused on increasing women's representation in technical and leadership roles in a traditionally male-dominated energy sector.

The Project will also support the "Competitive" quality by funding a renewable project developed by private developers in the power generation sector, which remains majority-owned by the state-owned utility STEG. The Project is part of the first 500 MW solar PV projects under the new 1.7 GW renewable energy programme under the Concession Regime, which was competitively tendered in 2024.

The Project will support the development of a gender-responsive Skills Development Strategy to address the evolving needs of the energy sector for a skilled technical workforce in in Sidi Bouzid and Gabes Governorates, promoting gender equality and women's participation in the traditionally male-dominated energy sector. This also includes awareness-raising campaigns on Gender-based violence and harassment and care-related benefits across local communities in Khobna and Mezzouna.

The Bank's additionality is underpinned by extensive policy dialogue in developing the renewable energy regulatory framework in Tunisia and supporting the restructuring of the energy sector over the past eight years. The Sponsors will benefit from EBRD's support in view of the Bank's active policy engagement in Tunisia as well as the Bank's experience and track record in the renewables sector across the COOs.

Technical support of up to EUR 35,000 is expected to be provided under the Gender and Economic Inclusion (G&EI) TC Framework (TCRS 12804) to support Scatec in the design and implementation of the gender-responsive Skills Development Strategy. Such TC is expected to be funded by Climate Investment Funds or Shareholder Special Fund.

Grant of up to EUR 3m from the EU NIP to cover part of the cost related to transmission lines and substation.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the EBRD, the client is a special purpose vehicle to be incorporated in Tunisia for the sole purpose of owning and operating the Project. It is co-owned by Scatec (50%) and Aeolus SAS (50%), part of the Japanese conglomerate Toyota Tsusho Group.

As stated on the company's LinkedIn account, Aeolus is a large scale renewable energy platform dedicated to Africa, owned 50% respectively by Toyota Tsusho's wholly owned subsidiaries, CFAO and Eurus Energy.

As stated by Bloomberg, Scatec ASA operates as an energy company. The Company develops, builds, owns, operates and maintains solar, hydro, and wind power plants that generate clean and reliable electricity. Scatec serves customers worldwide.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Aeolus SAS Client Energy contracts with Scatec ASA Client Energy
Toyota Tsusho Corp Parent Company Industry and Trade owns Aeolus SAS Client Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - Scatec ASA:

Vegard Skonseng Bjerketvedt
Email: vegard.skonseng.bjerketvedt@scatec.com
Phone: +4741686470
Website: http://www.scatec.com
Address: Askekroken 11, 0277 Oslo, Norway

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html

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