The plant will be built on Providence Lagoon, Mahé, and will supply power to the national grid.

The project, known as Seysun Lagoon Floating PV, is backed by a 25-year power purchase agreement with the Public Utilities Corporation.

Qair won the project through a government tender and will develop it in collaboration with its local partner, Vetiver Tech.

Seychelles aims to increase the share of renewables to 15% by 2030 under national policy.

Floating solar is expected to reduce reliance on imported fuels and help stabilise electricity costs for consumers.

In 2023, renewables supplied about 5% of total generation, highlighting the gap that this and other projects are intended to close.

FEI is an Africa-focused energy debt platform set up with support from the African Development Bank and managed by Cygnum Capital Asset Management.

It targets smaller grid-connected, mini-grid, and commercial and industrial projects across the continent.

Why it matters:

• The Providence Lagoon plant will add new clean capacity on the main island, supporting energy diversification and security of supply. 

• The use of floating PV allows solar deployment without competing for scarce land, an important factor for island states.  

Project facts at a glance

• Capacity: 5.8 MWp (floating solar)

• Location: Providence Lagoon, Mahé, Seychelles

• Financing: US$5.7m senior debt from FEI (sole lender)

• Offtaker: PUC, under a 25-year PPA

• Developers: Qair Group with Vetiver Tech (local partner)

• Policy context: 15% renewable energy target by 2030; renewables ~5% of generation in 2023.