Pour support Tunisia's renewable energy goals and reduce dependence on imported gas, the Multilateral Investment Guarantee Agency (MIGA) granted a guarantee of $23.5 million to AMEA Power. This financing will make it possible to develop the first large-scale solar power plant financed by the private sector in Tunisia.

The guarantee granted to AMEA Power Ltd. for its investment in the Kairouan solar power plant, SARL, in Tunisia, covers the risks of currency transfer restrictions and inconvertibility, expropriation, war and civil unrest, and breach of contract for a period of 18 years. It also facilitates the development, financing, construction, operation and maintenance of a 100 MW solar photovoltaic power plant connected to the grid in Kairouan, Tunisia. The electricity produced by the project will be sold to the Société Tunisienne de l'Électrice et du gaz (STEG), a public company, under a 20-year power purchase contract. The project aims to meet the growing demand for electricity in Tunisia, to reduce electricity production costs and to support the country's evolution towards self-sufficiency by using domestic renewable energy sources. This development will allow STEG to reduce its exposure to gas price volatility and exchange rate fluctuations, which will ease the government's fiscal burden and restore