EIB funds baseload solar-plus-storage project in French Guiana

• The European Investment Bank (EIB) has actually expanded EUR 25 million (USD 29.3 m) in the red to the company behind a project requiring the building and construction of a baseload renewable complex in French Guiana, combining solar, hydrogen, battery storage and also fuel cells.

To be set up in the community of Mana, in the northeastern part of the abroad French division, the so-called CEOG Renewstable Power Plant will certainly consist of a 54.5-MW photovoltaic (PV) park, 16 MW of electrolysers to create green hydrogen and also store up to 88 MWh of power in an aeriform type, as well as a 38-MWh battery and also a 3-MW fuel cell system. The complex will certainly create dispatchable power to around 10,000 homes.

The EIB funding was granted to CEOG SAS, a special function vehicle set up by Paris-based mutual fund Meridiam (60%), petroleum operator SARA (30%) and hydrogen innovations programmer Hydrogene de France, better called HDF Energy, (10%). The companions plan to commission the facility in 2024.

Meridiam will certainly lead the project development as well as will manage the power plant in the long-term. HDF Energy, which developed the hybrid battery-hydrogen energy storage system, will give growth and also design solutions.

The companions formerly said they will put some USD 200 million to execute the system. Siemens Energy has actually been picked as the design, purchase and construction (EPC) service provider. HDF will deal with providing the hydrogen fuel cells, while the electrolysis platform will be supplied by French hydrogen firm McPhy Energy SA.