oil and gas

British company plans to invest $1.5bn in clean energy in Tunisia

August 18, 2022

The Tunisian Ministry of Economy and Planning said that the British TuNur group presented an investment programme to establish a solar power plant worth $1.5 billion in the governorates of Gabes and Qibili.

This came in a statement released by the Ministry of Economy and Planning last night, after the Minister of Economy and Planning, Samir Saied, received Daniel Rich, CEO of TuNur, which specialises in the field of renewable energy.

The ministry stated that the volume of investment, which will be able to reach a production capacity of about 500 megawatts, will be directed to the European market.

Europe is suffering from the fluctuation of the abundance of electric energy due to the natural gas crisis caused since the start of the Russian-Ukrainian war, and the EU's attempt to reduce dependence on Russian energy sources.

According to the statement, Daniel Rich stated that Tunisia's strategic location, 'could make it one of the most prominent sites in North Africa for the production and supply of electricity to Europe.'

The company will benefit from the weather in Tunisia, which includes days that are hotter than any other country in Europe, in addition to the availability of the necessary infrastructure to deliver electricity to the neighbouring continent.

Tunisia suffers from a deficit in the production of electricity for domestic consumption, which prompted it to import energy from Algeria.

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