The PPA was awarded in a government tender to support Tunisia’s ambitious renewable energy targets and enhancing the country's energy security. The project will be developed in partnership with Aeolus SAS (Aeolus), part of the Japanese conglomerate Toyota Tsusho Group. El Fahs is Scatec’s first wind project in Tunisia and has a prime location with strong wind resources, supported by long-term high-quality wind data. The wind project is in line with Scatec’s strategy to build an onshore wind portfolio over time.
“The El Fahs wind project is a strategic milestone as we expand our presence in Tunisia and partnership with Aeolus, while broadening our technology footprint. With a strong partner, high-quality wind resources, and long-term contracted revenues, this project reinforces our ability to grow profitably in attractive markets like Tunisia,” says Terje Pilskog, CEO of Scatec.
The total capital expenditure (capex) for the project is estimated at EUR 100 million and will be financed by a combination of non-recourse debt and equity, with Scatec owning 50% of the project, and Aeolus the remaining 50%. Scatec is currently in dialogue with selected financial institutions for debt financing of the project and the total financing structure will be communicated at financial close which is expected in first half of 2027.
Scatec will apply its integrated model and further information on Scatec’s scope of Engineering, Procurement and Construction (EPC), Asset Management (AM), and Operations & Maintenance (O&M) services will be provided at financial close.
