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Gathering stakeholders from various industries such as finance, environment, and renewable energy, the forum aimed to provide them with a deeper understanding of energy transition in Seychelles and receive their feedback.
Seychelles’ strategy to attract finance and investment in energy transition-related projects, such as renewable energy and green technologies, will be completed by the end of this year.
The chief executive of the Seychelles Investment Board (SIB), Anne Rosette, revealed the plans to the media recently after a workshop held together in collaboration with the United Nations Conference on Trade and Development (UNCTAD).
The half-day workshop at Eden Bleu Hotel is the consultative part of a three-year project to help the small island state attract investment and finance in the renewable energy sector. Gathering stakeholders from various industries such as finance, environment, and renewable energy, the forum aimed to provide them with a deeper understanding of energy transition in Seychelles and receive their feedback.
In his address, the Minister for Agriculture, Climate Change and Environment, Flavien Joubert, remarked that the country’s “dependence on imported petroleum products for its energy needs, is also increasingly unsustainable due to uncertainty of supplies and price fluctuation caused by geopolitical tensions.
Seychelles has invested in solar farms in recent years, with the largest so far located on Ile Romainville, a reclaimed island off the coast of Mahe, the main island.
The island nation recently signed an agreement with French energy company, Qair, for the installation of a 5-megawatt photovoltaic (PV) system in the lagoon at Providence on the eastern coast of Mahe.
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The small island nation is also working with the United Nations Development Programme (UNDP) and the Global Environment Facility (GEF) to offer a rebate for households and enterprises to install PV systems. As part of the initiative, residential customers receive a 25 percent refund of the total cost of the PV system and its installation, while commercial entities receive 15.
