HDF Energy has successfully reached financial close and plans to start construction on the world’s first baseload renewable energy power plant using hydrogen technology and it is ready to be deployed to Africa.
HDF Energy and its equity partners, the infrastructure fund Meridiam and the petroleum operator SARA announced the start of the construction of CEOG Renewstable Power Plant in French Guiana.
According to the company, CEOG is the world’s first multi-megawatt hydrogen power plant, and the largest green hydrogen storage of intermittent electricity sources (128MWh).
Representing a total investment of $200 million, CEOG is an optimised combination of a solar park, a hydrogen long-term energy storage and a battery (short-term energy storage) to produce 24/7 baseload power.
It is the first time that a renewable energy project supplies a grid through a capacity-based Power Purchase Agreement, usually used for thermal power plants, states HDF Energy. This type of electricity offtake contract guarantees the availability and stability of the electricity produced by CEOG. This last characteristic is essential for powering isolated grids or reducing congestion on large networks.
Damien Havard, CEO of HDF Energy, said: “CEOG demonstrates that our solution addresses a very large market being all the grids currently powered by fossil fuel power plants. By supplying non-intermittent renewable energy, CEOG – which we are already replicating across the world – opens a new era for renewable energies.”
The Renewstable power plant will supply 100% renewable, stable and dispatchable power to 10,000 households at a lower cost than the diesel power plant, but without emitting any greenhouse gas, fine particle, noise or fumes, states the company.
The power plant produces electricity using local sources of clean energy to fully sustain the local needs, reducing exposure to oil price volatility, supply risks and saving foreign exchange.
To make the technology available in Africa, in 2021, the company has established a satellite office in South Africa, employing locally, to offer solutions to the Southern and Eastern African regions.
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Nicolas Lecomte, Director Southern Africa of HDF Energy, said: “This is part of my mandate to make our solution available to utilities and private consumers in Africa. This enables us to support their electrical grid and electricity needs, contributing to their decarbonisation goals, with non-intermittent green electricity.”