July 20 (SeeNews) - Abu Dhabi-based renewables firm Masdar will help the Seychelles install wind and solar farms as part of a new renewable energy initiative that aims to deal with a severe shortage in domestic energy sources.
Masdar has already assisted the country in building a 6-MW wind park in the capital Victoria, which is the Seychelles’ first renewable energy project. It was funded through a USD-28-million (EUR 25.8m) grant from the state-owned Abu Dhabi Development Fund. The electricity generated by the particular wind farm covers over 8% of the energy needs of Mahe Island, which is home to over 90% of the country's population.
Now, Masdar will also support plans to construct a solar power plant in the Seychelles. The purpose of the new renewables programme is to achieve sustainable development and to lure investments in the field.
“[...] we welcome investors from the UAE, other Gulf states or any other country to set up renewable energy projects in Seychelles," said Seychelles President James Michel.
(USD 1.0 = EUR 0.922)