Qair has obtained a $5.7 million senior debt facility from the Facility for Energy Inclusion. The financing is to support the development, construction, operation, and maintenance of a 5.8 MWp floating solar plant at Providence Lagoon on Mahé Island, Seychelles.
The project, known as the Seysun Lagoon floating photovoltaic plant, is part of Seychelles’ national renewable energy roadmap. It is backed by a 25-year power purchase agreement with the Public Utilities Corporation. The project was awarded through a government-led tender. Qair will execute the project in partnership with local renewable energy company Vetiver Tech.
The project is expected to support the country’s target of achieving 15 per cent renewable energy share by 2030, as outlined in Seychelles’ Nationally Determined Contributions. By using lagoon space rather than land, the project provides an alternative solution to the land constraints faced by the country.
Qair is a European renewable energy company that develops, finances, builds, and operates renewable energy projects. The company currently operates 65 MW of installed capacity in Africa and has a development pipeline of more than 2 GW across solar, wind, and hybrid projects in the continent.
