U.K.-based impact investment company and renewables developer Pash Global has signed a 25-year power purchase agreement (PPA) with the island of Saint Helena’s utility for the development of a 3.2 MW solar-wind-storage microgrid.
The agreement with Connect Saint Helena Ltd includes a microgrid for the South Atlantic island that combines a 568 kWp/500 kW solar farm; a three-turbine, 2.7 MW wind farm; and a 3.2 MWh/3.5 MW battery.
Switching to renewables for the majority of its electricity needs will make Saint Helena one of the greenest British overseas territory islands, said Pash in a statement. The developer, which is owned by Singapore-based commodities trader Trafigura, noted the project was in line with the island’s 10-year plan to invest in renewables to become self-sufficient, reduce reliance on imported fuels such as diesel and increase fuel security and price stabilization.
Pash co-founder Kofi Owusu Bempah said the project would “deliver the lowest cost of power to Saint Helena and enable the transition towards its net zero emissions target.” The facility will not only save more than 150,000 metric tons of carbon emissions over its lifetime, but will also provide the island “with security of electricity supply, from a unique hybrid of renewable sources,” added Owusu Bempah.
Pash’s project partners include U.K. merchant banking group Close Brothers and Indian engineering company Sterling and Wilson.