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Pre‑feasibility and structuring of a utility‑scale photovoltaic project in Tunisia

An industrial investor based in Europe was evaluating an investment in the photovoltaic sector in Tunisia, focusing on a utility‑scale plant to be built in the south of the country under a concession scheme, with energy sold to the national utility.
The initiative was conceived as a pilot project, potentially replicable in future developments.

Challenge

Access to the Tunisian renewable energy market requires in‑depth understanding of:

  • The regulatory framework and concession procedures.
  • The institutional set‑up and the roles of the entities involved.
  • The technical and economic sustainability of large‑scale projects.
  • The impact of country risk, exchange rate risk and available incentives.

Without a structured pre‑feasibility study, there was a serious risk of shaping the investment on theoretical assumptions or on parameters not aligned with actual tender practice.

Valit's intervention

Valit supported the promoter through a coherent and structured preliminary analysis, which included:

  • Framing of the country context and of the national energy strategy.
  • Analysis of the concession regime and of authorisation timelines.
  • Definition of the most suitable technical configuration for the local context.
  • Development of a prudent economic‑financial model.
  • Assessment of available incentives and possible blending instruments.
  • Identification of the main risks and related mitigation strategies.

The work was conceived as a concrete decision‑making basis, useful both from an industrial and a financial standpoint.

Result

The pre‑feasibility study enabled the promoter to:



  • Realistically assess the project’s feasibility.
  • Estimate costs, revenues and expected returns under different scenarios.
  • Clarify the technical and institutional prerequisites for accessing tenders.
  • Make an informed decision on whether to proceed to the subsequent development phases.

The project thus evolved from a mere investment hypothesis into a structured and credible initiative.

The project highlights Valit’s approach to renewable energy initiatives: rigorous analysis, sound understanding of the local regulatory framework and solid foundations before any investment decision.
Internationalisation in the energy sector is addressed as a structured and progressive journey, oriented towards long‑term sustainability.

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