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Class Editori News

Eni opens the Tunisian photovoltaic construction site

May 08, 2019


Abstract : Eni has inaugurated the construction site of a photovoltaic plant in Tataouine, in the south of Tunisia, which will have a maximum installed capacity of 10 MW.

MILAN, May,6 (Class Editori) -- Eni has inaugurated the construction site of a photovoltaic plant in Tataouine, in the south of Tunisia, which will have a maximum installed capacity of 10 MW. This project, assigned to the Etap-Eni consortium following a public tender issued by the Tunisian authorities – as required by the country's licensing regulations – involves the supply of electricity to the State company, Société Tunisienne de l'Electricité et du Gaz, and will be implemented by a new joint venture between Eni and Etap exclusively to the production of energy from renewable sources.

The plant, equipped with a solar tracking system capable of optimizing the energy produced, will supply the national electricity grid with over 20 GWh/year of energy, with an overall CO2 savings of around 260,000 tons in the 25 years of operation. Moreover, in the Tataouine governorate, the Italian oil giant led by Claudio Descalzi will complete the construction of Adam's photovoltaic field with a maximum installed capacity of 5 MW, whose energy will be used directly from the industrial site.

The plant, built with an innovative hybrid system that also includes an energy storage system, will facilitate the integration with the existing turbines, reducing gas consumption, operating costs and atmospheric carbon dioxide emissions. Eni and Etpa thus reaffirm their commitment to the decarbonisation of the Tunisian energy system towards a low-carbon scenario.

Eni has been present in Tunisia since 1961 and operates in the country in the upstream sectors, with activities in the desert areas of the south and in the Mediterranean offshore, Gas & LNG Power and Marketing, managing the Transmed pipeline linking Algeria to Italy through Tunisia and in the Refining & Marketing sector.

On Thursday, May 2, Eni successfully returned to the American market by pricing a 10-year fixed rate USD-denominated bond issue for a nominal value of 1 billion dollars.

The 10-year bond pays an annual coupon of 4.250% and has a re-offer price of 99.742%. The proceeds of the issue will be used for the ordinary needs of the Group. Eni announced that the offer received a high interest from the market, reaching a demand of about 4.6 billion dollars. In particular, the main professional investors, such as insurance companies, pension funds and fund managers, joined to the offer.

(Source:Class Editori)

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