Renewable Energy Acceleration Program

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The proposed project is designed to facilitate Seychelles' transition to clean energy by creating an enabling environment conducive to the deployment of renewable resources. The project aims to help Seychelles meet its RE goals by financing urgently needed climate-resilient investments in grid stability and battery energy storage system (BESS) to allow for greater integration of VRE sources. Through a combination of technical assistance and the financing of critical investments and upgrades to the power network and system, the project aims to support the deployment of 18 MWp of solar PV and the installation of 18 MWh of storage, mobilizing US$ 25 million from private investors in RE generation.Component 1 of the project looks to deploy the necessary infrastructure to eliminate the existing technical risks that prevent further deployment of RE capacity in Seychelles. This component entails the strengthening of Seychelles' distribution and transmission networks, the installation of new substations on the three main islands (Mahe, Praslin, and La Digue), as well as investments in BESS. These investments will be required to allow for the integration of grid-connected and distributed RE projects and eliminate network constraints for the deployment of further RE.Component 2 comprises a range of TA activities intended to strengthen the capacity and capabilities of the power sector in Seychelles, as well as with easing the preparation of a pipeline of RE assets in the country. These activities are divided in three main sub-components: (i) transaction advisory and capacity building, (ii) preparation of an RE pipeline (e.g. pre-feasibility and feasibility studies, ESIA, etc.); (iii) generation plans, tools and training, (iv) staff cost support for the implementation of the project