MCB and GreenYellow: Rs 940 million to finance 17 solar power plants

MCB and GreenYellow have signed a Rs 940 million financing agreement to develop 17 photovoltaic projects, with a combined capacity of over 25 MW. The plants are designed for Mauritian industrial companies under the Central Electricity Board's Carbon Neutral Industrial Sector (CNIS) Renewable Energy Scheme. They will allow manufacturers to become contributors to the country's renewable electricity production. The arrangement also allows new projects to be added until the end of 2027.

Once operational, the plants will generate nearly 38 GWh of renewable electricity a year. That is the equivalent of the annual consumption of about 15,800 Mauritian households. They should also avoid close to 27,000 tonnes of CO₂ emissions annually.

The financing builds on the partners' 2023 collaboration on the Arsenal solar plant (nearly 14 MW, Rs 350 million). It also illustrates the key role of banks in delivering national energy ambitions.

Aldo Sydonie, Head of Mauritian and Regional Corporates, MCB: "Financing the energy transition is an important part of our commitment to Mauritius' sustainable development."

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