Scatec Shares Edge Higher as Company Starts Construction of 120 MW Solar Power Plant in Tunisia

Oslo/Tunis – Norwegian renewable energy company Scatec has achieved financial close for the Sidi Bouzid II Solar Power Plant in Tunisia and has started construction of the project. The 120-megawatt (MW) solar power plant is scheduled to enter commercial operation in the second half of 2027.

The project was awarded in late 2024 as part of a government tender and is being developed in partnership with the Japanese company Aeolus SAS, a subsidiary of the Toyota Tsusho Group. Scatec and Aeolus each hold a 50% stake in the project. Total investment costs amount to approximately EUR 96 million. Financing is being provided, among others, by the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB).

The solar power plant is expected to generate around 276 million kWh of electricity annually while reducing CO₂ emissions by nearly 107,000 tonnes per year. Tunisia currently generates around 95% of its electricity from natural gas, more than 60% of which is imported. The country aims to increase the share of renewable energy in electricity generation to 35% by 2030.

The Scatec share, which is listed in the global RENIXX World (Renewable Energy Industrial Index), closed yesterday at EUR 8.52. Compared with the price at the turn of the year, this represents a decline of 4.7%.

Source: IWR Online, 26 Jun 2026