Summary:

Recently, multiple large-scale power projects were announced in Tunisia. The European Union plans to invest over €300 million in an undersea high voltage electricity cable, called  ELMED. Emirati energy firm AMEA Power announced that construction would begin on a 100 megawatt solar project in Kairouan. AMEA is targeting 2024 for commencing commercial operations and noted that additional projects may be forthcoming in Tunisia. Finally, photovoltaic power production recently began by Italian firm Eni in Tatouine.

Outlook:  

We continue to monitor the investment landscape in Tunisia, with solar power projects emerging as a common theme. European countries are looking to augment energy supplies to support the European Green Deal and to evolve energy supplies away from reliance on Russia. Given Tunisia’s proximity to Europe and its historical ties to the region, it sits at the crossroads of significant investment opportunity as Europe looks for energy diversification.