Voltalia- Menzel

pending

The proposed investment seeks to support a 130MWp solar photovoltaic (“PV”) project in Tunisia (the “Project”) which was awarded in 2024 by the Government of Tunisia, following a competitive tender to Voltalia (“Voltalia” or the “Company”). Voltalia is a France based renewable energy company headquartered in Paris. The Project Company, a special purpose vehicle, Menzel Parc Solaire (“ MPS”) is registered locally.The project will consist of (i) a utility grade grid-connected PV array power system; (ii) a 200m new Overhead Transmission Line (OHTL); and (iii) upgrade and connection to an existing 145km OHTL. The power system will consist of approximately 185,000 N-type TOP with double-sided double glazing panel installed on a horizontal single-axis beam tracker with 60o tilt. Preliminary design indicates that the plant will include string inverters stations, converting direct current from the panels to alternating current, and a substation, converting to appropriate voltage for connection directly to the national grid with no storage batteries required. Connection to the grid will be through a new 200m OHTL that will connect to the existing 145km OHTL via a Loop-In Loop-Out (LILO) connection. The 200m OHTL will be constructed on project land. The 145km OHTL connects to the Bouchamma and Mdhilla substations. The 145km OHTL will be upgraded from 150kV to 225 kV voltage capacity and the upgrade works consist only of changing isolator on the towers, as the existing cable is deemed adequate for a voltage of 225kV and additional power. The existing 145km OHTL is owned by the Société Tunisienne de l'Electricité et du Gaz (Tunisian Company of Electricity and Gas – “STEG”) and has been in operation for more than 40 years by the latter. The power plant will also include ancillary structures such as an office and data control building, warehouses and workshops, and internal roads. The plant will be completely fenced. Access to the site is via the existing regional road, RN15 connecting to an existing untarred access track of 4km. The access track was used mostly by the landowner to access the site. The project is still in the design stage and is expected to be completed within 18 months after groundbreaking under a turnkey, fixed price Engineering Procurement and Construction (“EPC”) contract. The selection of the EPC contractor is in process and construction activities are expected to commence in Q1 2026. MSP is expected to operate the plant for 25 years and then hand it over to the Government of Tunisia as per the Power Purchase Agreement (PPA).The proposed project site is located in the Gabes Governorate in the delegation of Menzel Habib and within El Mehemla sector. The nearest community to the project site is El Mehamla village, located 2.3 km to the north from the project site. The town of Menzel Habib lies 11 km away, while the city of Gabes is situated 70 km from the solar PV plant. The project will be established on a 200 hectares plot that belongs to a private owner, under one land title. The land is leased from one landowner under a willing lessee, willing lessor arrangement. The plot is uninhabited, free of any structures and was being used for herding activities by the owner. MSP will lease the plot for a period of 25 years. For the 200m new OHTL, it will be constructed within the perimeter of the project site, which will be under the same lease agreement. As for the existing 145km, it has an established 14m (each side) legal Right of Way (RoW). No changes to the RoW are planned as part of this project, hence no further land acquisition will be required for the existing OHTL as per the defined requirement of STEG.The project is expected to employ approximately 450 workers, of whom 100 would be skilled and 350 unskilled, during the peak construction phase. During the Operation and Maintenance (“O&M”) phase, the plant will be operated by MPS, and likely to employ around 20 employees working in shifts. The E&S policies and procedures at the level of the Project Company will reflect those of Voltalia.