Qatar acquires 60% of Tunisia energy company

Qatar Nebras Power announced on Monday that it has completed the acquisition of a 60 per cent stake in Tunisia’s Carthage Power Company, the Anadolu Agency reported.

The company said in a statement that Nebras Power Investment Management, a wholly owned Dutch affiliate of Nebras Power, has completed the purchase.

“The transaction continues with Nebras’ acquisition strategy to enhance its asset base through attractive PPA opportunities and marks the entry of Nebras into Tunisian power market and establishes its first presence in North Africa,” it said.

The Carthage Power Company has a power plant in Tunis with a production capacity of 471 megawatts and provides about ten per cent of the country’s electricity.

Nebras Power is a joint venture between Qatar Electricity and Water Company, which holds 60 per cent of the company, and Qatar Holding. The company’s capital is estimated at $1 billion.

READ: Qatari investments in Tunisia reach $1bn