German Development Bank finances 10 MW solar project in Tunisia

KfW has agreed to provide $14.1 million to Societe tunisienne de l’electricite et du gaz (STEG), a Tunisian state-owned utility, for the construction of a 10 MW solar project in Tozeur, southern Tunisia. The total construction cost is expected to be $18 million, including a $13.63 million low interest loan for project construction and another $0.57 million for additional services related to the project. The loan was awarded in partnership with the European Union (EU) in the frame of the Neighbourhood Investment Facility (NIF), which provides EU partners with financing for heavy infrastructure in the social, transport, energy and environment sectors. Furthermore, the NIF granted additional financing of $1.7 million to STEG for the project, which will be built by Italian solar developer Ternienergia.

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