UAE's Masdar to help build 5MW solar plant in Seychelles while finances provided by Abu Dhabi Fund for Development
Abu Dhabi Future Energy Company, better known as Masdar, will help build a 5MW solar power plant with battery storage in the Republic of Seychelles.
The project is being financed by a AED31 million loan from Abu Dhabi Fund for Development (ADFD), the national entity for development aid, as well as funds from the Public Utilities Corporation's (PUC) own equity.
The 5MW Ile de Romainville Solar Park will be located on the same site as the existing ADFD-financed AED103 million Port Victoria Wind Farm. Built by Masdar, this 6MW renewable energy wind farm has been generating power for the Seychelles’ capital since 2013.
Seychelles currently relies on fossil fuels to meet its electricity demand, with fossil fuels accounting for around 20 per cent of the country’s imports. In response, it has set a target of 5 percent renewables by 2020 and 15 percent by 2030.
The new project will also include an energy storage system with a capacity of 5MW and 3.3 megawatt-hours (MWh), allowing for the safe and stable supply of electricity to the main island of Mahé.
Due for completion in the second quarter of 2019, the Ile de Romainville Solar Park is part of ADFD and International Renewable Energy Agency (IRENA) Project Facility.
ADFD has committed $350 million in concessionary loans over seven funding cycles to support the establishment of renewable energy projects in developing countries.
“Seychelles has placed climate change at the centre of its sustainable development strategy,” said Mohammed Saif Al Suwaidi, director general of ADFD. “Contributing to the financing of this solar park with integrated battery storage will bolster ADFD’s efforts in supporting the island country’s priorities, especially with regard to mitigating carbon emissions through the deployment of renewable energy.”
Mohamed Jameel Al Ramahi, CEO of Masdar, added: “Masdar is honoured to have been selected to partner with ADFD and PUC in the development of Seychelles’ latest renewable energy project, and to build on our successful involvement in the Port Victoria wind project.”