Toyota Tsusho to Participate in Third Solar Photovoltaic IPP Project in Tunisia, Africa
- Africa
2026-07-01
Toyota Tsusho Corporation ("Toyota Tsusho") announced today that through its group company AEOLUS SAS ("AEOLUS"), which is engaged in renewable energy business in Africa, it will participate in an independent power producer (IPP) project to construct, own, operate 100 MW solar power plants and sell electricity in the Republic of Tunisia ("Tunisia").
This will be the Toyota Tsusho Group's third solar photovoltaic project in the country.
Background
Tunisia relies on imports for most of its energy sources, such as oil and natural gas, with thermal power generation accounting for the majority of domestic power generation capacity. The Government of Tunisia has an ambition to increase the share of renewable energy to 35% of total power generation by 2030 and is running a renewable energy procurement program to achieve this target.
As part of its growth strategy to expand its renewable energy business in Africa, the Group aims to increase its power generation capacity from the current 1 GW to 3 GW by 2030. Toyota Tsusho is participating in this project as a part of its efforts to help expand the adoption of renewable energy at both Toyota Tsusho and Tunisia.
Project Summary
This project involves the construction, ownership, and operation of a 100 MW solar power plant in the Sidi Bouzid governorate of Tunisia. It will be carried out by SCATEC KHOBNA PV POWER SARL, a company jointly funded by AEOLUS and Scatec ASA ("Scatec"), a renewable energy provider from Norway.
The project is expected to reach commercial operation in the second half of 2027, and the electricity generated will be sold to the Tunisian Company of Electricity and Gas for 25 years.
Through AEOLUS, Toyota Tsusho has already participated in two solar power projects in Tunisia. Upon completion of the Project, the total capacity in the country is expected to reach 200 MW.
The project is being financed through funds provided by the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) and also benefits from support*1 provided by the European Union through an EFSD+ guarantee and EU Neighbourhood Investment Platform grant.
In addition, the Project has been selected under Subsidy Programme for the Joint Crediting Mechanism (JCM) Facility Introduction*2 by Ministry of the Environment, Japan in FY2024.
AEOLUS has secured equity insurance support from the Multilateral Investment Guarantee Agency (MIGA)*3 of the World Bank Group.
The Toyota Tsusho Group promotes carbon neutrality to pass on a better Earth to the children of the future. In Africa as well, under the key message "for the future children of Africa," Toyota Tsusho will continue to promote green businesses that contribute to solving social issues and achieving economic growth.
Planned location of plant
Project Overview
| Power plant name | Sidi Bouzid II Solar Plant |
|---|---|
| Business company name | SCATEC KHOBNA PV POWER SARL |
| Location | Sidi Bouzid governorate, Central Tunisia |
| Business activities | Solar power generation and sale of electricity |
| Investment ratio | Scatec 50%, AEOLUS 50% |
| Equipment capacity | 100 MW (120 MWp*4) |
| Recipient of electricity | Tunisian Company of Electricity and Gas (STEG) |
| Total project cost | Approx. 96 million euros |
| Commercial Operation | Second half of 2027 |
| Financial/guarantee agencies | European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), European Union, Multilateral Investment Guarantee Agency (MIGA) |
Overview of AEOLUS
|
Company name
|
AEOLUS SAS |
|---|---|
|
Establishment
|
March 13, 2024 |
|
Location
|
French Republic |
|
Representative
|
President and Managing Director Hideharu Toba |
|
Business activities
|
Renewable energy business |
|
Investment ratio
|
CFAO 50%, Eurus Energy Holdings 50% |
- *1Including EFSD+ guarantee mechanisms supporting the financing package and a 5.5 million euros grant from the Neighborhood Investment Platform (NIP) for the associated transmission infrastructure
- *2Ministry of the Environment, Japan has been implementing the Subsidy Programme for the JCM Facility Introduction, which provides financial support of up to a 1/2 of the initial investment cost for projects. Representative participants in the Projects shall conduct measurement, reporting, and verification (MRV) of GHG emission reductions. In addition, this financing support programme is expected to contribute to global decarbonization by disseminating and deploying advanced decarbonizing technologies while ascertaining in detail the needs of partner countries. This project is being implemented with the cooperation of the governments of Tunisia and Japan.
- *3A member of the World Bank Group, providing guarantees for private investors to promote cross-border investment.
- *4A unit that indicates the maximum output (theoretical peak value) of a system in solar power generation.
Our Efforts So Far
- August 6, 2024 release: Participation in 100MW Solar Photovoltaic IPP Projects in Tunisia
(https://www.toyota-tsusho.com/english/press/detail/240806_006449.html)
- April 24, 2026 release: 100MW Solar Power Plant Completed in Tunisia
(https://www.toyota-tsusho.com/english/press/detail/260424_006829.html)
The information in this release is current as of the date of announcement.
Please note that information may change after the date of announcement. Thank you in advance for your understanding.
