Energy Tunisia powers up green energy plan with new solar plants By Pramod Kumar August 11, 2024, 6:49 AM Reuters/Oriental Image/Liang xiaopeng Once operational, the two solar plants are expected to reduce annual CO2 emissions by up to 108,000 tonnes Two new solar photovoltaic (PV) plants are set to be constructed in Tunisia, helping the country reduce its reliance on fossil fuels. The European Bank for Reconstruction and Development (EBRD) and Proparco, a French development agency, will provide €25 million ($27.31 million) funding for the construction of two 60-megawatt (MW) solar power plants in Tozeur and Sidi Bouzid regions. The two solar PV power plants will be developed by Scatec, a Norway-based renewable energy provider, and Aeolus, subsidiary of Japan’s Toyota Tsusho Group. Once operational, the two solar plants are expected to reduce annual CO2 emissions by up to 108,000 tonnes. EBRD has invested more than €2.3 billion in 73 projects in Tunisia since 2012 and supported 2,000 small and medium-sized local enterprises. In July Tunisia signed six agreements with international companies to develop green hydrogen production as it seeks to expand its clean fuel production capacity. The North African country signed memoranda of understanding with companies including Norway’s Aker Horizons, Austria’s Verbund, France’s Amarenco and Hydrogène de France and H2 Global of Jordan.
Economy Bahrain debt hits $48bn but analyst downplays spending fears Bahrain’s public debt has risen to almost BHD18 billion ($48 billion), according to its ministry of finance, but a banking expert has downplayed concerns over its spending. Bahrain, the smallest country in the GCC bloc of six with a population of almost 1.5 million people, has dwindling reserves of oil and gas. It is partially […] 1 hour ago
Construction Eagle Hills signs contract for Budapest redevelopment Abu Dhabi-based developer Eagle Hills has signed a real estate purchase agreement with Hungary to start work on transforming a rundown area of Budapest. The project, spanning an area of 100 hectares, will have a development cost of more than €12 billion ($12.3 billion), the developer said in a statement. The project is supported by the […] 36 mins ago
Finance Kuwait ministries free to increase public service charges Kuwait issued a decree on Sunday that will allow ministries to set charges for public services for the first time in 30 years. The decree, which abolishes a 1995 law, gives ministries authority to decide on fees and costs for public services, which will then be approved by the cabinet. The government aims to better […] 45 mins ago
Economy Lebanon and Sudan swell Arab countries’ public debt Public debt in Arab countries swelled by nearly $142 billion at the end of 2023, mainly because of a sharp rise in obligations by Lebanon and war-battered Sudan. Total debt increased despite a fall in Egypt’s public, mostly domestic, dues as a result of a large depreciation in the pound against the US dollar. The […] 2 hours ago
