Akuo, Partners Sign PPA for 10 MWp Solar Project in Tunisia

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Akuo, an independent global renewable energy power producer and developer, in a consortium with its Tunisian partners HBG Holding (Hédi Bouchamaoui Group) and Nour Energy (a subsidiary of the Immobilière Chaabane construction and real estate group), announces the signing of a power purchasing agreement with STEG (Société Tunisienne de l’Electricité et du Gaz, i.e. the Tunisian electricity and gas company) for a 10 MWp solar plant, thus formalizing the Gabès project’s implementation. This signing marks Akuo’s entry on the Tunisian market and HBG Holding and Nour Energy’s intention of moving towards the renewable energy sector.

In order to diversify the country’s energy mix, the Tunisian government has put in place a program to develop renewable energies. It is within the context of this program that it has initiated the Tunisian Solar Plan (TSP), a national program aiming to increase the share of renewables in overall electricity production from 3% currently to 30% by 2030.

The power plant will be equipped with bifacial solar photovoltaic panels laid on trackers that can swivel in order to continually face the sun, thus allowing the panels to receive more sunlight. This project, located in Gabès governorate, is part of a local and sustainable approach, as jobs will be created throughout its life cycle: the site’s construction phase will enable close to 200 jobs to be created and its operational phase another 15. The plant will allow approximately 23 GWh of renewable and decentralized electricity to be produced locally each year, i.e. the equivalent of the consumption of more than 14,000 inhabitants. The project’s financing should be completed in 2021 and the site is expected to become operational in 2022.

Pierre-Antoine Berthold, Managing Director of Akuo Energy Afrique said It is with a great sense of pride and joy that Akuo is initiating its presence in Tunisia through this 10 MW project. It represents another step in our opening up to African markets, but also our desire to adopt an approach that benefits local inhabitants. We have joined forces with HBG Holding and Nour Energy, local partners with whom we share ethical values, and are intent on creating local and sustainable jobs throughout the project’s life cycle.

Firas Saied, Managing Director of HBG Holding said We are convinced that the future of energy depends on renewable energies, and we are delighted to be able to contribute, with our partners, to this essential energy transition. During the recent years, Tunisia has seen a decline in energy production and a strong increase in demand. The deployment of renewable energies will allow us to rebalance the equation and reduce the energy deficit.

We would like to thank all the stakeholders who contributed to the success of this first phase of the project. Nour Energy’s ambition is to become a major player in the development, financing, construction and operation of renewable energy projects. This project is an important step towards achieving this vision and will bring a
great environmental and social impact for the whole region of Gabès said Nour Chaabane, Managing Director of Nour Energy

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