The solar park located on Romainville Island in the Seychelles is set to save the government revenue that would otherwise be spent on the import of petroleum products.
The solar park will save the country $1 million a year in energy expenses. According to Laurent Sam, the energy engineer of the Public Utilities Company (PUC), the state-run entity in charge of the project, it “will allow Seychelles to save 1.6 million liters of fuel that will no longer be needed at the PUC plant. If we do the calculation based on the price of oil today, we will save about $1.02 million a year.”
With a capacity of 5 MW, the infrastructure will cost an estimated $ 10.2 million, of which 25% will be provided by the PUC. The 75% of the remaining funding will be mobilized by the government, through a 2% interest rate loan obtained from the International Renewable Energy Agency and the Abu Dhabi Development Fund.