Qair Solar- Project A (EBRD-55026)

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
Feriana
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
Approved
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
Mar 19, 2024
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
Centrale Solaire Feriana B (Qair International)
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)
$ 4.24 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 3.9
Converted using 2024-03-19 exchange rate.
Loan Amount (USD)
$ 4.24 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 3.9
Converted using 2024-03-19 exchange rate.
Project Cost (USD)
$ 7.86 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 7.24
Converted using 2024-03-19 exchange rate.
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 24, 2024

Disclosed by Bank Mar 20, 2024

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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.

According to the EBRD, the project consists of the provision of EUR 3,900,000 for the design, development, financing, construction, commissioning, operation and maintenance of a 10MW solar photovoltaic (PV) power plant located in Feriana town in Tunisia. Project A is 100% owned by Qair International. Post construction, Qair will be the majority shareholder while Mazarine Energy BV will hold a participation. The Project is considered alongside another 10MW SPP co-located and with the same Sponsor (see Qair Solar - Project B).

Tunisia aims at lessening dependence on fossil fuels by diversifying its energy mix, and development of renewable energy is therefore a key priority for the country. Further, the Project will be among the first solar projects realized by the private developer Qair, under the authorization regime in Tunisia.

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, Centrale Solaire Feriana B is a special purpose vehicle incorporated in Tunisia. Project A is 100% owned by Qair International.

As stated by Bloomberg, Mazarine Energy BV is a subsurface-driven private oil and gas exploration and production company focused on early-stage exploration and field development. The company is currently active in North Africa, where it has a majority operating interest in an onshore license in central Tunisia and in Western Australia.

As stated on the company's website, Qair is an independent European renewable energy company with a global presence and a track record as an industry pioneer. 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Mazarine Energy BV Undisclosed Energy contracts with Qair International 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 - Qair International:

Eric Boutemy
Email: e.boutemy@qair.energy
Phone: +216 29 028 158
Website: https://www.qair.energy/
Address: 11 Rue Kabadou, La Marsa 2070, Tunisia

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

How it works

How it works