Qair secures $150M financing for Mauritius hybrid solar + BESS project

Qair has secured $150 million in financing for its Stor'Sun hybrid solar and battery storage project in Mauritius. The project, which integrates 60 MWc of solar power with 256 MWh of battery storage, will supply 8% of Mauritius’ national electricity demand. The financing includes collaborations with SBM Bank for Stor'Sun I, II & IV and MCB for Stor'Sun III. This investment represents one of the largest in the Indian Ocean in recent years and is expected to reduce the island’s reliance on fossil fuels and lower energy costs.

Counterparts (3)

Developer

Qair

company

Qair is an independent power producer (IPP) focused on developing, financing, building, and operating renewable energy projects. They invest in a diversified portfolio of renewable energy sources, including onshore wind, offshore wind, solar PV, hydroelectric, biogas, and green hydrogen.

Lender

MCB

company

MCB Group is a financial services provider in Mauritius with a growing presence in Sub-Saharan Africa and selected markets. MCB's investment focus includes infrastructure projects, particularly in the energy and utilities sectors, across its geographic footprint.

SBM Bank

company

SBM Bank Kenya Limited is a commercial bank offering a range of financial services. The bank focuses on providing banking solutions to individuals, SMEs, and corporate clients.