Qair secures finance for 5.8MW floating solar project in Seychelles

Facebook
Twitter
LinkedIn
Reddit
Email
Qair has signed a PPA for the 5.8MW floating solar project. Image: Tenaga Nasional Berhad.

French independent power producer (IPP) Qair has secured a US$5.7 million senior debt facility to finance the development of a 5.8MW floating solar (FPV) project off Mahé Island in Seychelles.

Qair secured approval for the Seysun Lagoon project through a government tender and has signed a 25-year power purchase agreement (PPA) with the country’s Public Utilities Corporation. The financing was provided by the Facility for Energy Inclusion (FEI), a financing platform led by the African Development Bank that aims to support the deployment of small-scale renewable energy projects in Africa.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

In May, Seychelles launched the latest version of its Nationally Determined Contribution (NDC) development process, which sets out a path to meet 15% of the country’s domestic electricity demand with renewable power by 2030.

Last week, John van Zuylen, CEO of the Africa Solar Industry Association (AFSIA), told PV Tech Premium that solar is the “ideal” technology type to improve electricity access in Africa, and that utility-scale projects have become increasingly popular across the continent. Carmen de Castro, managing director and fund lead at Cyngum Capital, one of the companies behind the FEI programme, said the group is “proud” to be part of this “landmark project”.

“As the first IPP utility-scale project in Seychelles and one of the largest floating solar PV projects in Africa, it represents a significant milestone for the region,” added de Castro.

The news follows Qair’s advancement of other solar projects in Africa, including the securing of finance for a solar-plus-storage project in Mauritius and the signing of a PPA for a 298MW solar project in Tunisia.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

October 3, 2025
EDF Renewables and Enlight Renewable Energy have advanced solar-plus-storage projects in New Mexico and Arizona.
October 3, 2025
SunStrong Management has raised US$900 million to refinance a 'large portfolio' of residential solar assets developed by SunPower.
October 3, 2025
Chinese government policies and supply-side production cuts will drive a significant increase in solar and storage component costs.
October 1, 2025
Italy has released the results of its latest solar auction, which includes 273 expressions of interest for a combined capacity of 3,161MW.
September 30, 2025
Global investor KKR has acquired 50% of a 1.4GW solar portfolio in North American from French oil major TotalEnergies.
September 29, 2025
German renewables developer ABO Energy is looking to begin owning and operating its energy projects in a transition from a “pure play” developer to an independent power producer (IPP) model.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA
Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland