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Island Nation Seychelles will create a floating solar system as a part of its bid to fight climate change. This is going to be the world’s largest saltwater floating solar plant. It will come up in the lagoon at Providence, on the eastern coast of Mahe
Island Nation Seychelles will create a floating solar system as a part of its bid to fight climate change. This is going to be the world’s largest saltwater floating solar plant. It will come up in the lagoon at Providence, on the eastern coast of Mahe. Commissioning this long-awaited plant will help Seychelles close the carbon emission gap and move closer to the vicinity of the zero carbon emission league.
The project is coming up in collaboration with French renewable energy company Qair and was signed on board the Energy Observer, a floating photovoltaic laboratory.
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Three agreements were signed on board. The first one was between the Seychelles government and Qair for government support on the project. The other two – power purchase and grid connection agreements – were signed between the Public Utilities Corporation (PUC) and Qair. The project is likely to be commissioned in seven months’ time.
Riding on the back of a solid recovery of the tourism sector, Seychelles maintained Fitch Ratings 2023 at ‘BB-‘ with a stable outlook. It also signifies that the growth prospects are with low inflation and a stable macroeconomic framework. Tourist arrivals in the country surged by 82 percent year-on-year to reach 86.4 percent of 2019 levels (pre-pandemic days).
However, Fitch cautions Seychelles that the tourist arrivals can remain below the pre-pandemic days due to competition from other high-end tourist destinations. It projects a fall of 5% in arrivals as compared to the pre-pandemic time. As a result, tourism receipts will dip by about 14 percent in 2023 and 7 percent in 2024.
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Seychelles’ GDP growth is mostly contributed by the tourism sector. Over 41.3 percent of GDP for the current year is going to come from the tourism sector.
