French independent power producer (IPP) Qair has secured a US$5.7 million senior debt facility to finance the development of a 5.8MW floating solar (FPV) project off Mahé Island in Seychelles.
Qair secured approval for the Seysun Lagoon project through a government tender and has signed a 25-year power purchase agreement (PPA) with the country’s Public Utilities Corporation. The financing was provided by the Facility for Energy Inclusion (FEI), a financing platform led by the African Development Bank that aims to support the deployment of small-scale renewable energy projects in Africa.
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In May, Seychelles launched the latest version of its Nationally Determined Contribution (NDC) development process, which sets out a path to meet 15% of the country’s domestic electricity demand with renewable power by 2030.
Last week, John van Zuylen, CEO of the Africa Solar Industry Association (AFSIA), told PV Tech Premium that solar is the “ideal” technology type to improve electricity access in Africa, and that utility-scale projects have become increasingly popular across the continent. Carmen de Castro, managing director and fund lead at Cyngum Capital, one of the companies behind the FEI programme, said the group is “proud” to be part of this “landmark project”.
“As the first IPP utility-scale project in Seychelles and one of the largest floating solar PV projects in Africa, it represents a significant milestone for the region,” added de Castro.
The news follows Qair’s advancement of other solar projects in Africa, including the securing of finance for a solar-plus-storage project in Mauritius and the signing of a PPA for a 298MW solar project in Tunisia.
