UPC Renewables North Africa and CIO Partner to Develop the Sidi Mansour Wind Farm in Tunisia

Providing a proof of concept and support for Tunisia’s target to have a 30% reliance on renewable energy by 2030.

8 June 2020 – Climate  Fund Managers (CFM) and UPC Renewables (UPC) are pleased to announce their partnership for the development of a 30 MW windfarm in Tunisia.

In 2016, Tunisia announced the launch of the Tunisian Solar Plan 2030 with the goal of increasing the share of renewables in the electricity generation mix from 3% to 30%. The Sidi Mansour Project will assist Tunisia in meeting its renewable energy goal, reduce reliance on imported fossil fuels, and demonstrate that Tunisia is an attractive destination for renewable energy investments.

 

A JOINT INVESTMENT

In January 2019, UPC was selected as one of the four awarded companies under the “Authorisation Scheme” tender for its 30MW Sidi Mansour project in Northern Tunisia and subsequently signed a PPA with Société Tunisienne d’Electricité et du Gaz. UPC has been developing the Project for more than a decade. Over its lifespan the Sidi Mansour Project is expected to lead to a reduction of 56,645 ton equivalent of carbon and create more than 100 jobs. The total investment size of the Project is expected to be approximately US$ 40 mln.

The Project will be one of the first wind Independent Power Producers (IPP) in the country. Climate Fund Mangers is participating as co-developer, sponsor, financial advisor and E&S advisor to the Project, through the development and construction financing facility under its management, Climate Investor One (CI1). UPC will lead the development of the Project with its local team that will lead land securitization, permitting, grid connection, wind resource assessment, and engineering and procurement contracts.

 

STRATEGIC PARTNERSHIP WITHIN TUNISIA’S RENEWABLE ENERGY SECTOR

“We are excited to work with CFM under this partnership for Sidi Mansour 30MW project that can address some of the challenges in the Authorization Scheme to help achieve the ambitious Tunisian Solar Plan. We can start the construction of the Sidi Mansour wind farm in 2020, helping stimulate the Tunisian economy, create local jobs and a social plan for local communities while respecting international environmental protection guidelines.” Brian Caffyn, Chairman of the UPC Group says.

“CFM is thrilled to partner with a leading wind developer in the Sidi Mansour Wind Project to assist Tunisia in meeting its renewable energy goals. As potentially the first Wind IPP in Tunisia, this Project will be a testament to how CI1’s full lifecycle financing solution can unlock investment in renewable energy in new markets.” Sebastian Surie, Regional Head of Africa for CFM.

———————————

 

About CFM

Climate Fund Managers (CFM) is a leading blended finance fund manager dedicated to securing a sustainable future through investing across global emerging markets. CFM has a long-term vision to structure cutting edge financing facilities around thematic areas of climate change mitigation and adaptation, including renewable energy, water and oceans, sustainable land use and sustainable cities. CFM is established as a joint venture between the Dutch development bank FMO and Sanlam InfraWorks – part of the Sanlam Group of South Africa.

Climate Investor One (CI1) is the inaugural facility managed by CFM and the first of an intended series of ‘blended finance’ investment vehicles focused on providing capital to climate mitigation and adaptation sectors in developing countries. CI1 has a focus on Africa, South and Southeast Asia, and Latin America and uses a whole-of-life financing approach intended to reduce implementation timelines. CI1 Climate Investor One was launched in partnership between FMO and Sanlam InfraWorks, part of the Sanlam Group of South Africa. The facility also enjoys support from the EU through its External Investment Plan, a part of its wider commitment to sustainable development and climate change mitigation, as well as cornerstone support from the Ministry of Foreign Affairs of the Netherlands, the Nordic Development Fund (NDF) and USAID’s Power Africa programme. CI1 is a USD 850 million financing facility.

About UPC

The American group UPC was established in 1995 as one of the earliest developers in wind energy.  UPC has formed companies that have built more than 70 wind and solar operational projects representing an installed capacity of over 4,500 MW and an investment of more than 8 billion US dollars. UPC has been working in Tunisia since 1998, where it was awarded the Sidi Mansour project in January 2019 and has several projects in advanced stage of development to be delivered at competitive prices in Tunisia’s upcoming tenders.

 

For more information, journalists are welcome to contact:

Adam Tunnicliffe

Investor Relations Manager, Climate Fund Managers.

E A.tunnicliffe@climatefundmanagers.com

T +37 020 452 05

 

Alex Berenguer

CEO, UPC North Africa Renewables

E: info@upcna.com

www.upcrenewables.com

Comments (10)

Right here is the perfect webpage for everyone who hopes to understand this topic.

You realize so much its almost hard to argue
with you (not that I personally will need to…HaHa).
You definitely put a new spin on a subject which has been written about
for a long time. Excellent stuff, just great!

I’ll right away grab your rss as I can’t to find your e-mail subscription hyperlink or e-newsletter
service. Do you have any? Please permit me understand so that I may subscribe.
Thanks.

We absolutely love your blog and find a lot of your post’s to be just what I’m looking for.
Do you offer guest writers to write content for yourself?
I wouldn’t mind composing a post or elaborating on a few of the subjects you write about here.
Again, awesome website!

Hi! I’m at work surfing around your blog from my new iphone 4!
Just wanted to say I love reading through your blog and
look forward to all your posts! Carry on the excellent work!

Nice to satisfy you, my identify is Brendan but I don’t like when people use my entire title. Texas is his start place but he needs to go simply because of his relatives. Managing folks has been his occupation for some time and his income has been actually satisfying. The factor he adores most is to foundation bounce but he’s thinking on starting off one issue new.

Hi to every one, the contents present at this website are really
amazing for people knowledge, well, keep up the nice work fellows.

Appreciating the time and energy you put into your site
and in depth information you provide. It’s good to come across a blog
every once in a while that isn’t the same outdated rehashed information. Wonderful read!
I’ve bookmarked your site and I’m adding your RSS feeds to my Google account.

Wow, this piece of writing is pleasant, my sister is analyzing such things,
therefore I am going to convey her.

Brendan is the title I appreciate to be identified as with and I assume it seems fairly fantastic when you say it. The issue he adores most is to base jump but he’s imagining on starting one issue new. Indiana is her birth location but her husband wants them to transfer. After staying out of my task for years I became an office clerk and I’m performing fairly great fiscally.

Awesome post. I am a regular visitor of your blog and appreciate you taking the time to maintain the nice site. I’ll be a regular visitor for a really long time.

Leave a comment