QAIR Gafsa solar

approved

Provision of senior debt financing of up to EUR 30.0 million to fund the construction and operation of a 100 MW solar photovoltaic plant and its associated transmission infrastructure, located in the governorate of Gafsa in Tunisia (the "Project"). The electricity produced by the Project will be sold to Societe Tunisienne de l'Electricite et du Gaz ("STEG") the off-taker for the Project under a 25-year Power Purchase Agreement. The Project will benefit from a grant of up to EUR 3 million from the EU Neighbourhood Investment Platform (EU NIP) to cover part of the cost of the transmission infrastructure through the Tunisia Renewable Energy Programme. In addition, it will receive a first-loss risk guarantee from the European Fund for Sustainable Development plus (EFSD+) Hi-Bar guarantee programme. The programme contributes to economies in the European Neighbourhood by supporting sustainable investments in energy transition.