Kairouan Solar Plant (MIGA-15214)

Countries
  • Tunisia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Kairouan
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
  • Multilateral Investment Guarantee Agency (MIGA)
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
Apr 2, 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
AMEA Power, Ltd.
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)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 23.50 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.
Bank Documents
Primary Source

Original disclosure @ MIGA website

Updated in EWS Sep 22, 2024

Disclosed by Bank Aug 1, 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 Bank’s website, MIGA issued a guarantee totaling US$23.5 million to cover for the investments of AMEA Power, Ltd., on build-own-and operation of the 100MW grid connected solar power plant and its associated facilities in Kairouan, Tunisia. The MIGA Guarantee will cover the quasi-equity investments of AMEA Power, Ltd. in Kairouan Solar Plant with an amount up to US$23.5 million against the risks of transfer restriction and currency inconvertibility, war and civil disturbance, expropriation, and breach of contract for a period of 18 years.

As part of the Government of Tunisia ("GoT") commitment to reduce greenhouse gas emissions ("GHG") under the Paris Agreement and its updated Nationally Determined Contributions, and to meet electricity demand growth, while reducing the fiscal burden of importing gas, the GoT has an ambitious plan to increase the renewable energy share to 35% of the overall country's energy mix by 2030. Toward this, in December 2019, the GoT awarded AMEA through a competitive bid a concession to design, finance, build, own, and operate a grid-connected 100 MW solar power plant located in the Kairouan Governorate in the delegation of Sbikha, approximately 110km south of Tunis, 15km north of Kairouan and about 500m northeast of the Sbikha Industrial zone.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

This is a Category B project according to IFC’s Policy on Environmental and Social Sustainability.

Environmental and Social (“E&S”) impacts associated with the project are limited, generally project-specific and can be addressed through the implementation of good international industry practices. Furthermore, it is possible to design and implement engineering and management measures to mitigate adverse impacts during construction and operation. The environmental and social risks are moderate and for those that have been identified, the client’s ESHS management system and the agreed E&S Action Plan (“ESAP”) provides appropriate mitigation. 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

A guarantee totaling US$23.5 million.

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.

AMEA was founded in 2016 and is headquartered in Dubai, UAE. The company develops, finances, builds, owns, and operates renewable energy plants in Africa, Middle east, and Asia. The Project Enterprise, a special purpose vehicle, Kairouan Solar Plant Sarl., has been set-up.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - AMEA Power Limited Client -

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.

Local Access of Project Documentation 

KAIROUAN SOLAR PLANT (SARL LLC) 

31, Avenue Alain Savary 1002 Tunis le Belvédère - TUNISIA 

Mr. Vito Saluto, Head of ESG 

AMEA Power LLC 

Marina Plaza Offices, Level 33, Dubai Marina, PO Box 37669 

Dubai, United Arab Emirates 

Mobile: +971 52 104 22 93 

Website: www.ameapower.com

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.miga.org/contact/access_to_information

You can also request general information about MIGA and for information on guarantees by emailing: migainquiry@worldbank.org

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works