Qair has closed new financing to support delivery of its 60MW hybrid solar and battery energy storage system portfolio in Mauritius.
The four Stor’Sun projects were awarded to the company in 2023 and mark one of the most ambitious clean energy infrastructure packages in the island nation to date, according to Qair.
Implementation of the projects will contribute to Mauritius’s goal of sourcing 60% of its electricity from renewables by 2030.
The financing facility was provided by SBM Bank (Mauritius) Ltd, which Qair described as a trusted long-term partner with strong expertise in supporting complex energy transition projects.
“The financing of Stor’Sun 1 and 2 marks an important step in our commitment to supporting next-generation energy infrastructure, contributing to the stability of the national electricity grid and the increased integration of renewable energies,” said SBM Bank Officer-in-Charge Rita Gujadhur.
Olivier Gaering, Qair’s regional director for the Indian Ocean, said: “This choice was based on the bank’s exceptional understanding of the challenges and specificities of large-scale, innovative projects, making it the clear long-term partner for Stor’Sun.”
Qair has been active in Mauritius since 2008 and currently operates a 10MW wind farm and 25.3MW of solar parks.
The developer said the Stor’Sun initiative is part of its wider African strategy, which includes operating 65MW, financing 154MW, and developing more than 2GW of additional clean energy capacity across Burkina Faso, Tunisia, Morocco, Seychelles and other countries.
Qair said the company is committed to providing affordable, clean and reliable electricity across the continent.