MCB Group Ltd and Omnicane Ltd are pleased to announce the launch of an investment vehicle dedicated to the financing of renewable energy projects in Mauritius and the region. The vehicle is designed to finance regional investments in solar, hydro and wind powered projects.
The first project financed by the consortium is the development of a 4.8 MW photovoltaic plant in Poudre d’Or, located in the north of the island. The project is currently under construction and will be operated under the Medium-Scale Distributed Generation (MSDG) Scheme of the Central Electricity Board (CEB), the national electricity company.
The project comprises two solar farms, with connection agreements signed between CEB and two prosumers, namely MCB Ltd and Omnicane Milling Ltd, in collaboration with Calycé International. Built by Ecoasis Energy Solutions Ltd, a Mauritian contractor, the plant will feature around 8,200 solar panels across four hectares of land and is expected to reduce CO₂ emissions by approximately 7,000 tons per year, with commissioning expected by April 2026. The solar farms will integrate Agrivoltaic practices that promotes food security objectives. The launch phase has been financed through funds advanced by the shareholders and a Green Bond issued in accordance with the International Capital Markets Association (ICMA) principles. MCB Financial Advisers, the advisory arm of MCB Group, structured the financing and acted as Transaction Advisor to the investing consortium.
This initiative shall contribute directly to MCB Group’s goal of reducing CO₂ emissions associated to its electricity consumption. The project, which will result in MCB Group and Omnicane generating approximately 7,700 MWh of renewable energy each year, underscores the partners’ commitment to supporting the Government of Mauritius’ target of achieving 60% renewable energy in the national electricity mix and phasing out of coal by 2035.
The partnership shall benefit from the expertise of Omnicane, a key player in the local energy sector, with a presence in East Africa through its 5.5 MW hydro power plant, of Calycé, a French renewable energy developer with over two decades of experience in designing, building, and operating solar and wind projects across Europe, and of MCB Group, a leader in structuring and financing renewable energy projects.
Jacques M. d’Unienville, CEO of Omnicane Ltd, commented: “We are very proud of this partnership with MCB Group and Calycé,and closing this first project. This paves the way for an impactful solution enabling the deployment of renewable energy projects in Mauritius and in the region.”
Eric Boban, CEO of Calycé, commented: “We are very excited about this long-term collaboration with our partners, MCB Group and Omnicane. Mauritius is key to our international expansion in renewable energies for its excellent governance framework and ease of doing business”
Rony Lam, Chief Executive Officer of MCB Capital Markets, commented: Impact Newswire to stay informed and be part of the global conversation.
Sefi Atta
Biggest Selling Title: Everything Good Will Come
Short Bio: A Nigerian author, Atta’s works often focus on the lives of women in contemporary Nigeria, addressing
themes of social change and personal identity.
Shady Prairie
Papua New Guinea: You have two cows. One eats the other.
Sherm
Fun South African Fact: Lions, elephants and giraffes may not roam the city streets, but nature and animals are never too far away in South Africa. From vervet monkeys swinging through tree-lined streets in the suburbs and baboons frolicking around Cape Point to seals visiting the Hout Bay harbour in search of a fishy snack and an array of bird species taking to the sky at any given moment. Wildlife is all around!