Marubeni Corporation and Voltalia secured financing through Japan’s Joint Credit Mechanism (JCM) for the development of a 130 MW solar project in the Gabès region of southeastern Tunisia. The project was approved during the JCM’s application round held between April and September 2025, with the Global Environment Centre Foundation (GEC) in Osaka serving as the implementing body. Electricity generated will be sold to the Société Tunisienne de l'Électricité et du Gaz, displacing fossil fuel-based grid power and reducing greenhouse gas emissions. The JCM, launched in 2011, provides funding covering up to 50% of initial investment costs for low-carbon infrastructure in partner countries. This transaction marks one of the latest solar financings under the bilateral program, which has supported projects in over 30 countries. The Japanese Ministry of the Environment (MOE) selected the project based on its emissions reduction potential and technical viability.
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Counterparts (5)
implementing_organization
Global Environment Centre Foundation
company · 1 deals
Lender
Japanese Ministry of the Environment
company · 1 deals
Tokyo-based government ministry overseeing Japan's environmental policy and green infrastructure development. Leads national decarbonization initiatives with focus on renewable energy, hydrogen, and circular economy infrastructure. Administers multi-billion-dollar public funding programs for energy transition projects.
Offtaker
Société Tunisienne de l'Electricité et du Gaz
company · 1 deals
Société Tunisienne de l'Electricité et du Gaz (STEG) is the national electricity and gas company of Tunisia. It is involved in the production, transmission, and distribution of electricity and gas throughout the country, and is exploring renewable energy sources and smart grid technologies.
Developer
Voltalia
company · 3 deals
Voltalia is a French renewable energy developer focused on solar, wind, and hydroelectric power. They develop, operate, and maintain renewable energy projects globally, with a strong presence in Europe, Latin America, and Africa.
Marubeni Corporation (lead developer)
company · 2 deals
Marubeni Corporation, a leading Japanese sogo shosha, is a global infrastructure developer with over 40 GW gross power generation capacity and significant investments in water, transportation, and industrial projects across Asia, the Americas, and EMEA, reporting ¥8.7 trillion in FY2023 revenue.
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Deal Analysis
Marubeni Corporation and Voltalia have secured financing through Japan's Joint Credit Mechanism (JCM) for a 130 MW solar project in Tunisia's Gabès region. Voltalia, a French renewable energy developer, has a strong presence in Europe and develops, operates, and maintains renewable energy projects globally. Marubeni Corporation, a Japanese trading and investment conglomerate, has a diverse portfolio of businesses, including power and infrastructure services. The project was approved during the JCM's application round held between April and September 2025, with the Global Environment Centre Foundation (GEC) in Osaka serving as the implementing body. The Japanese Ministry of the Environment (MOE) selected the project based on its emissions reduction potential and technical viability.
- 130 MW solar project in Tunisia's Gabès region
- Financing secured through Japan's Joint Credit Mechanism (JCM)
- Project approved between April and September 2025
- Global Environment Centre Foundation (GEC) in Osaka as implementing body
- Japanese Ministry of the Environment (MOE) selected the project
Source Intelligence
KEY DETAILS
The JCM, launched in 2011, provides funding covering up to 50% of initial investment costs for low-carbon infrastructure in partner countries. The project was approved during the JCM’s application round held between April and September 2025. The project qualifies for the carbon financing program as it reduces greenhouse gas emissions by replacing part of the electricity from the fossil fuel-derived grid power with renewable energy.
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Capacity
A 130 MW solar project in Tunisia has received backing from the Japanese government’s Joint Credit Mechanism (JCM) subsidy program.
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Location
The newly-backed 130 MW solar project will be located in the Gabès region of southeastern Tunisia.
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PPA Details
According to details on GEC’s website, it will be developed by Japanese conglomerate Marubeni Corporation in collaboration with French renewables developer Voltalia, with the electricity generated sold to the Tunisian company of electricity and gas.
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Financials
The JCM is a bilateral initiative that collaborates with developing countries to reduce greenhouse gas emissions, providing financial support that can cover up to half of initial investment costs for low-carbon technologies.
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Announcement
March 19, 2026 Patrick Jowett Finance Installations Markets Utility Scale PV Japan Tunisia
PARTIES MENTIONED IN SOURCE
M
Marubeni Corporation
developer
"According to details on GEC’s website, it will be developed by Japanese conglomerate Marubeni Corporation in collaboration with French renewables developer Voltalia, with the electricity generated sold to the Tunisian company of electricity and gas."
V
Voltalia
developer
"According to details on GEC’s website, it will be developed by Japanese conglomerate Marubeni Corporation in collaboration with French renewables developer Voltalia, with the electricity generated sold to the Tunisian company of electricity and gas."
G
Global Environment Centre Foundation (GEC)
lender
"The Osaka-based Global Environment Centre Foundation (GEC) acts as the implementing organization, with the Japanese Ministry of the Environment (MOE) responsible for selecting projects."
J
Japanese Ministry of the Environment (MOE)
lender
"The Osaka-based Global Environment Centre Foundation (GEC) acts as the implementing organization, with the Japanese Ministry of the Environment (MOE) responsible for selecting projects."
S
Société Tunisienne de l'Électricité et du Gaz
offtaker
"Electricity generated will be sold to the Société Tunisienne de l'Électricité et du Gaz, displacing fossil fuel-based grid power and reducing greenhouse gas emissions."
high quality
Enriched Mar 19, 2026
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