Kevin Sara's ambitions in Tunisia
25 July 2010
Read by 1642 persons
British businessman Kevin Sara, head of Nur Energy, which develops solar projects in the Mediterranean region, has launched a mega 2-gigawatt concentrated solar power (CSP) plant project in southern Tunisia and a trans-Mediterranean cable between Tunisia and Italy to transport the electricity produced to Europe.
"Tunisia is one of the most business-friendly countries in North Africa and has excellent solar resources, while Italy has a long history of importing electricity, also via submarine cable," reads the presentation of the British company's projects in Tunisia on its website.
Nur Energie, which is already participating in the development of a concentrated solar power (CSP) project in Greece and the largest integrated building-integrated photovoltaics (BIPV) project of 11.5 megawatts on the roofs of the port of Marseille, France, has also joined the Desertec Industrial Initiative as an associate partner.
The energy of the future
"Nur Energie's strategy is to build local partnerships in the markets in which we operate. The European Union (EU) will become a major export market for renewable energy in the future and the Desertec industrial initiative will be a key partner in creating the framework conditions for renewable energy export projects from North Africa to the EU," explains Mr. Sara, quoted by 'Enerzine.com'.
"We have been analyzing the commercial opportunity of solar energy export projects from North Africa to Europe for two years and we are convinced that they represent a greener, commercially viable future energy option that is less dependent on volatile fossil fuels and also creates job and economic development opportunities throughout the Maghreb region," adds Dr. Till Stenzel, Nur Energie's chief operating officer.
The British company's objective, within the framework of the Desertec Industrial Initiative, is to develop the first solar energy export project from North Africa to Europe, including a high-voltage direct current (HVDC) cable across the Mediterranean.
Political stability and economic openness
In a recent interview with the website of the British Embassy in Tunisia, the CEO of Nur Energy discusses the reasons that led him to be interested in North Africa and particularly Tunisia to set up a concentrated solar power plant project.
In recent years, the young company has undertaken a study of North African countries, focusing on the assessment of political stability and economic openness. Its interest in this region is also explained by its geographical proximity to European markets such as Italy.
Throughout his career, Mr. Sara has worked with start-ups and entrepreneurs. After his master's degree in management from the Ecole Nationale des Ponts et Chaussées, he co-founded European Telecom and Media Investment banking at Salomon Brothers, advising governments on privatization, entrepreneurs on how to engage in deregulated markets, and on the deployment of emerging technologies such as mobile telephony and the Internet. Subsequently, at Nomura International, Mr. Sara founded a technology sector equity investment group and invested in 35 emerging technology companies in Europe and the United States. More recently, while preparing his doctorate on energy policies at Imperial College in London, he co-founded Hazel Capital, a private equity investment management company in renewable energy technologies.
It was within Hazel Capital that Nur Energy was created. Its capital is held by Mr. Sara and other private shareholders, including Deutsche Bank. The company aims to develop large solar power plants in the Sahara Desert to produce electricity with a very low carbon footprint.
"It must be understood that concentrated solar energy is first and foremost about financing and financial structures," explains Mr. Sara. He adds: "With concentrated solar energy, your investment is much longer-term than with fossil primary energy. And then, this fuel is always free for concentrated solar power plants."
Why did Nur Energy choose to set up in Tunisia before any other country in the region? Mr. Sara's answer: "According to our selection criteria, Tunisia meets our needs for political and economic stability and market access." He adds: "Tunisia is one of those great stories that are least told in the development of North Africa, and it offers a myriad of opportunities for British companies."
Enhancing Tunisian-British relations
Since June 21, Mr. Sara has been the second vice-president of the Tunisian-British Chamber of Commerce (TBCC). He sits alongside Messrs. Hassine Doghri (Cartes Insurance, President), Mohamed Sakher El Materi (Princesse Holding, 1st Vice-President), Naoufel Aissa (Shell Tunisia, Secretary General), Wided Bouchammaoui (Bouchammaoui Group, Treasurer), Hélène Msaddek, Noureddine Hajji, Ali Hjaiej, Mehdi Ben Abdallah (British Gas), Khaled Ben Jemaa (Tunisie Lait), Manel Ben Achour and Samira Zouari as members.
Analyzing bilateral cooperation between the United Kingdom and Tunisia in the energy sector, Mr. Sara stated: "We are delighted to follow in the footsteps of other major British companies that have largely contributed to the development of the energy sector in Tunisia. We aim to try and do just as well."
In this regard, the memorandum of understanding in the energy sector signed between the two countries in 2004 will consolidate the already very close relations in this area.
Published July 20, 2010
Posted online July 20, 2010
Kapitalis
"Tunisia is one of the most business-friendly countries in North Africa and has excellent solar resources, while Italy has a long history of importing electricity, also via submarine cable," reads the presentation of the British company's projects in Tunisia on its website.
Nur Energie, which is already participating in the development of a concentrated solar power (CSP) project in Greece and the largest integrated building-integrated photovoltaics (BIPV) project of 11.5 megawatts on the roofs of the port of Marseille, France, has also joined the Desertec Industrial Initiative as an associate partner.
The energy of the future
"Nur Energie's strategy is to build local partnerships in the markets in which we operate. The European Union (EU) will become a major export market for renewable energy in the future and the Desertec industrial initiative will be a key partner in creating the framework conditions for renewable energy export projects from North Africa to the EU," explains Mr. Sara, quoted by 'Enerzine.com'.
"We have been analyzing the commercial opportunity of solar energy export projects from North Africa to Europe for two years and we are convinced that they represent a greener, commercially viable future energy option that is less dependent on volatile fossil fuels and also creates job and economic development opportunities throughout the Maghreb region," adds Dr. Till Stenzel, Nur Energie's chief operating officer.
The British company's objective, within the framework of the Desertec Industrial Initiative, is to develop the first solar energy export project from North Africa to Europe, including a high-voltage direct current (HVDC) cable across the Mediterranean.
Political stability and economic openness
In a recent interview with the website of the British Embassy in Tunisia, the CEO of Nur Energy discusses the reasons that led him to be interested in North Africa and particularly Tunisia to set up a concentrated solar power plant project.
In recent years, the young company has undertaken a study of North African countries, focusing on the assessment of political stability and economic openness. Its interest in this region is also explained by its geographical proximity to European markets such as Italy.
Throughout his career, Mr. Sara has worked with start-ups and entrepreneurs. After his master's degree in management from the Ecole Nationale des Ponts et Chaussées, he co-founded European Telecom and Media Investment banking at Salomon Brothers, advising governments on privatization, entrepreneurs on how to engage in deregulated markets, and on the deployment of emerging technologies such as mobile telephony and the Internet. Subsequently, at Nomura International, Mr. Sara founded a technology sector equity investment group and invested in 35 emerging technology companies in Europe and the United States. More recently, while preparing his doctorate on energy policies at Imperial College in London, he co-founded Hazel Capital, a private equity investment management company in renewable energy technologies.
It was within Hazel Capital that Nur Energy was created. Its capital is held by Mr. Sara and other private shareholders, including Deutsche Bank. The company aims to develop large solar power plants in the Sahara Desert to produce electricity with a very low carbon footprint.
"It must be understood that concentrated solar energy is first and foremost about financing and financial structures," explains Mr. Sara. He adds: "With concentrated solar energy, your investment is much longer-term than with fossil primary energy. And then, this fuel is always free for concentrated solar power plants."
Why did Nur Energy choose to set up in Tunisia before any other country in the region? Mr. Sara's answer: "According to our selection criteria, Tunisia meets our needs for political and economic stability and market access." He adds: "Tunisia is one of those great stories that are least told in the development of North Africa, and it offers a myriad of opportunities for British companies."
Enhancing Tunisian-British relations
Since June 21, Mr. Sara has been the second vice-president of the Tunisian-British Chamber of Commerce (TBCC). He sits alongside Messrs. Hassine Doghri (Cartes Insurance, President), Mohamed Sakher El Materi (Princesse Holding, 1st Vice-President), Naoufel Aissa (Shell Tunisia, Secretary General), Wided Bouchammaoui (Bouchammaoui Group, Treasurer), Hélène Msaddek, Noureddine Hajji, Ali Hjaiej, Mehdi Ben Abdallah (British Gas), Khaled Ben Jemaa (Tunisie Lait), Manel Ben Achour and Samira Zouari as members.
Analyzing bilateral cooperation between the United Kingdom and Tunisia in the energy sector, Mr. Sara stated: "We are delighted to follow in the footsteps of other major British companies that have largely contributed to the development of the energy sector in Tunisia. We aim to try and do just as well."
In this regard, the memorandum of understanding in the energy sector signed between the two countries in 2004 will consolidate the already very close relations in this area.
Published July 20, 2010
Posted online July 20, 2010
Kapitalis
