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Tunisia: AfDB, AMEA Power, IFC and Sustainable Energy Fund for Africa (SEFA) launch first large-scale privately-financed solar project

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This initiative stands as one of Tunisia’s most impactful infrastructure projects in over a decade

TUNIS, Tunisia, September 26, 2023/APO Group/ — 

The African Development Bank (www.AfDB.org) and the Sustainable Energy Fund for Africa (SEFA), in partnership with the International Finance Corporation and UAE’s AMEA Power, today herald Tunisia’s first privately-financed solar project. This initiative is set to revolutionise the nation’s energy scene by cutting power generation costs, significantly trimming greenhouse gas emissions by over 90,000 tons annually, and bolstering Tunisia’s green transition.

The partners signed project launch papers on Tuesday 26 September, at the government headquarters in Al Qasba, Tunis. This initiative stands as one of Tunisia’s most impactful infrastructure projects in over a decade.

The 100-megawatt, $86 million solar plant located in Tunisia’s Kairouan governorate will benefit from up to $26 million in debt financing from the African Development Bank, including $13 million sourced from SEFA, a multi-donor fund that provides finance to unlock private sector investments in renewable energy and energy efficiency. The financing scheme is designed to ensure the holistic development, financing, operation, and maintenance of the plant, located roughly 150 km south of Tunis, in El Metbassta.

The plant is central to Tunisia’s strategy to reduce its reliance on natural gas. It aims to bolster the nation’s renewable energy share to an ambitious 35% by 2030, thus the Kairouan Solar project is not just about power generation; it is about regional transformation.

Hela Cheikhrouhou, IFC’s Regional Vice President, Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan, emphasized the venture’s broader impact: “This project represents a positive stride towards Tunisia’s green transition. South-South investments such as this one underscore the essential role that private sector partners can play in the energy transition. This project is in line with our strategy to enable South-South investments, including from Gulf Cooperation Council countries to emerging markets,” she said.

This venture exemplifies our collective effort to bolster Tunisia’s energy independence and fortify its green transition

Sérgio Pimenta, IFC’s Vice President for Africa, further added, “This ambitious, renewable energy project will not only bring more affordable, clean energy to the people of Tunisia, but it will help Tunisia achieve its energy goals and attract more private investments into future green projects. Through the project, we’re proud to build on our partnership with AMEA Power to expand their operations across North Africa, helping address the effects of climate change in the region.”

Reflecting on the landmark agreement, Dr. Kevin Kariuki, Vice President of Power, Energy, Climate, and Green Growth at the African Development Bank, stated, “We are thrilled to achieve this pivotal moment as we sign the first solar IPP project in Tunisia. This achievement results from AfDB’s unwavering commitment to fostering sustainable energy solutions on the continent. Today’s success is the result of a strong partnership between the Government of Tunisia, AMEA Power, the Bank, SEFA and the IFC. It embodies our joint commitment to help move the country close to its 35% clean energy target.”

AMEA Power’s Chairman, Hussain Al Nowais, said: “We are delighted to reach financial close on this 120MW solar power plant in Tunisia, our first project in the country. This is a significant milestone for AMEA Power and for Tunisia, as it represents the largest solar project fully developed in the country to date. Despite all the challenges that the market has been experiencing since the COVID pandemic, we are proud that we are delivering this project and honouring our commitment to supporting Tunisia’s transition to clean energy. We are grateful for the strong support of our lenders and the Tunisian government in making this project a reality.”

Malinne Blomberg, African Development Bank deputy Director General for North Africa said: “The Kairouan solar project symbolises much more than a renewable energy milestone for Tunisia; it’s a testament to the power of collaboration. As the inaugural transaction of its kind, it faced unique challenges, but the AfDB is committed to such transformative ventures. Today’s success and established partnerships will pave the way for future collaborations, driving a sustainable, prosperous and more just energy transition to Tunisia and Africa at large.”

SEFA’s participation is highlighted by the project’s inclusion as a vital component of its COVID-19 IPP relief programme, designed to cushion late-stage renewable energy projects from the economic tremors of the pandemic. The programme seeks to neutralise any associated cost surges due to the pandemic, preserving the project’s feasibility. This will ensure the Kairouan Solar PV project’s unique position as Tunisia’s pioneering utility-scale solar Independent Power Producer or IPP.

Wale Shonibare, African Development Bank Director for Energy Financial Solutions, Policy & Regulation noted that  the project resonated with the Bank’s unwavering dedication to catalysing sustainable energy solutions across Africa.

“This monumental stride was possible due to the formidable collaboration between the Government of Tunisia, AfDB, SEFA, IFC, and AMEA Power. This venture exemplifies our collective effort to bolster Tunisia’s energy independence and fortify its green transition,” Shonibare said.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Business

SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

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Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

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South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

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Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

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Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

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Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

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