Eurus Energy’s First Two Solar Power Plants in Tunisia Begin Operation
Eurus Energy Holdings Corporation (“Eurus Energy”) announced today that, AEOLUS SAS ("AEOLUS"), which was established through an investment with CFAO SAS, has completed the construction of two solar power plants in the Republic of Tunisia (“Tunisia”). Commercial operation of Sidi Bouzid Mezzouna PV Power commenced on January 1, 2026, followed by Tozeur PV Power on March 4, 2026.
These two power plants represent the first renewable energy projects undertaken by our group in Tunisia and are also the first investment projects since the establishment of AEOLUS.
2The power plants are located in Sidi Bouzid Governorate and Tozeur Governorate, respectively, and have power generation capacity of 50 MW (60 MWp) each, for a total of 100 MW (120 MWp). Together, the power plants will supply electricity equivalent to the consumption of approximately 120,000 households in Tunisia and are expected to reduce CO2 emissions by approximately 108,000 tons per year.
Operations will be carried out by operating companies jointly owned by AEOLUS with a 49% stake and Scatec ASA (“Scatec”), a Norwegian renewable energy solutions provider, with a 51% stake. Electricity will be sold under a 30-year power purchase agreement with the Tunisian Company of Electricity and Gas.
In addition, both power plants have been selected for the Joint Crediting Mechanism (JCM) Financing Programme for Facility Introduction* in FY2023 implemented by the Ministry of the Environment of Japan.
Under our corporate philosophy of “Helping to Preserve the Global Environment by Disseminating and Expanding Clean Energy Technologies,” our group will contribute to the spread of clean, low-cost renewable energy in Africa through AEOLUS and continue its efforts to further expand wind and solar power generation, thereby helping to conserve the global environment and create a sustainable society.
- *Ministry of the Environment, Japan has been implementing the JCM Model Projects, which provides financial supports covering up to half of the initial investment costs. The purpose of this model projects is to financially support the implementation of projects which reduce GHG emissions by utilizing leading decarbonizing technologies in developing countries, and in return, to acquire JCM credits for achievement of Japan’s GHG emission reduction and the partner countries’ emission reduction target. This project is being implemented with the cooperation of the Tunisian and Japanese governments.
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Outline of the Project
| Project Name | Sidi Bouzid Mezzouna PV Power | Tozeur PV Power |
|---|---|---|
| Operating company name | SCATEC SIDI BOUZID MEZZOUNA PV POWER SARL | SCATEC TOZEUR PV POWER SARL |
| Location | Sidi Bouzid Governorate, Central Tunisia | Tozeur Governorate, Central Tunisia |
Business description | Solar power generation and sale of electricity | |
| Investment ratio | Scatec 51%, AEOLUS 49% | |
| Capacity | 50 MW (60 MWp) | 50 MW (60 MWp) |
| Electricity purchaser | Tunisian Company of Electricity and Gas | |
| Total project cost | Approx. 79 million euros | |
| Financial group | European Bank for Reconstruction and Development (EBRD) and Société de Promotion et de Participation pour la Coopération Economique (Proparco) (EBRD loans include concessional loans mobilized by the EBRD and provided by the Clean Technology Fund (CTF) and the Global Environment Facility (GEF), which support climate change and global environmental protection measures for developing countries.) | |
| Start of construction | August 2024 | August 2024 |
| Start of commercial operation | January 1, 2026 | March 4, 2026 |
Project Sites
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 50% |