Scatec Successful in Tender: Scatec Secures 25-Year PPA for 120 MW Solar Project in Tunisia – Shares Slightly Down

Oslo (Norway) / Tunis (Tunisia) – Norwegian renewable energy service provider Scatec ASA has been awarded a 25-year power purchase agreement (PPA) with the Tunisian state utility STEG for a 120 MW solar power plant in Tataouine. The PPA was awarded in a government tender and is intended to support Tunisia’s expansion of renewable energy as well as the country’s energy security.

According to Scatec, the project is estimated to have capital expenditure of around EUR 80 million. Financing is planned through a combination of project-based debt (non-recourse debt) and equity. Scatec currently holds 100 percent of the shares but intends to bring in equity partners to reduce its stake. Talks with selected financial institutions on debt financing are ongoing; the final financing structure is expected to be announced at financial close, which is anticipated in the first half of 2027.

Scatec will also act as the EPC provider (Engineering, Procurement, Construction). The EPC scope is expected to cover about 80 percent of the capex. After commissioning, Scatec will also provide asset management as well as operations and maintenance (O&M), according to the statement.

“Tataouine strengthens our platform in Tunisia and reflects our ability to scale through repeatable, high-quality opportunities in our growth markets,” said Scatec CEO Terje Pilskog. He added that the project, with “long-term contracted revenues and a capital-efficient development model,” supports the strategy for “profitable, self-funded growth.”

Scatec develops and builds renewable energy plants worldwide and, according to its own information, has 6.2 GW in operation and under construction across five continents.

Scatec shares were down this morning and are currently trading at -0.9 percent at a price of EUR 10.26.

Source: IWR Online, 27 Jan 2026