Financial institutions join a 40 million dinar project for clean energy

By: Mohamed Ben Abderrazek

Tunisian financial institutions initiated their concerted efforts in September to fully adhere to the “Energy Transition Support Program for the Tunisian Private Sector – Power Tunisia” project.

This project, funded by the United States Agency for International Development (USAID), aims to accelerate the adoption of renewable energy and energy efficiency solutions among Tunisian companies. Its goal is to strengthen the capacities of key stakeholders, enabling them to better prepare, implement, and manage the transition to clean energy.

The specific objective of the project is to deploy 70 Megawatts of renewable energy and reduce CO2 emissions by one million metric tons annually. This will be achieved through raising $40 million for investments in clean energy, and by providing support to over 1,750 Tunisian companies.

The program targets projects of various sizes: large-sized projects (over 2 million dollars), medium-sized projects (ranging from 20 thousand to 2 million dollars), and small-sized projects (less than 20 thousand dollars).

In the same vein, Power Tunisia will collaborate with the private sector, including companies, developers, and experts, as well as energy consumers such as industrial companies and the residential sector. It will also engage with the financial sector, including commercial banks and microfinance institutions, in addition to donor organizations.

Notably, Power Tunisia will offer subsidies and targeted technical assistance to private companies to facilitate their transition towards green practices. These initiatives were formalized through agreements signed in Tunis on July 5.