A Chinese state-owned company has been contracted to build Guinea-Bissau’s first large scale photovoltaic project, the Gardete solar power plant. The African Biofuel and Renewable Energy Company (ABREC), which promotes renewables and energy efficiency in several countries, has awarded the contract to China’s hydropower entity, Sinohydro.
The entire solar and hybrid project is being financed by the Government of Guinea-Bissau with a $42.9 million loan from the West African Development Bank (BOAD). This financing was granted as early as 2017. The solar project, for which Sinohydro signed the engineering, procurement and construction (EPC) contract, involves three facilities.
As a result, around 95% of the energy consumed in Guinea-Bissauan households comes from biomass. The AfDB recently stated Guinea-Bissau has only 11MW of installed power generation capacity, almost all of being thermal generation.
Guinea-Bissau relies on fossil fuels and solar has seen limited development, with the exception of rural electrification initiatives. The nation has one of the lowest electrification rates in Africa, as well as electricity prices among the highest on the continent.
Eos, ESS Tech Inc and Energy Vault, the three big-name non-lithium energy storage firms that listed via SPAC deals, saw weak third quarter results. The US battery storage system integrator arm of Korean battery manufacturer LG Energy Solution (LG ES) has signed a 4-year supply deal with developer Terra-Gen.
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