DNV has acted as the lender's technical advisor and provided technical due diligence reviewing the world's largest power plant project combining photovoltaic energy and massive storage of 128 MWh by 'Centrale Electrique de l’Ouest Guyanais' (CEOG).
Meridiam, the main shareholder and developer worked with HDF, a global pioneer in hydrogen energy, and Sara, a key player in the production of energy in French Guiana, for over 3 years to structure a bankable project with a pool of leading financial institutions.
Renewstable® concept
CEOG aims to produce stable and continuous power, 24 hours a day, without polluting emissions
Using the Renewstable® concept developed by HDF Energy, combining a PV park, battery, and hydrogen-based storage station located in Saint-Laurent-du-Maroni, CEOG aims to produce stable and continuous power, 24 hours a day, without polluting emissions and without fuel logistics.
This innovative power plant will produce 100% renewable combining a photovoltaic plant and mass storage of energy in the form of hydrogen to supply the equivalent of 10,000 homes in Western French Guiana at a lower cost than diesel power plants in the region.
Risk evaluation and mitigation
CEO will prevent the emission of 39,000 tons of CO2 per year and make it possible to secure local consumption basins in the event of failure or maintenance of the electricity network.
DNV experts from four different countries evaluated technical risks and mitigation measures relative to typical industry practice; and advised on the technical status including the project description and site assessment, the license and environmental permits, the energy production modeling, and the design and technology review assessing PV modules, inverters, battery, electrolyzer, and fuel cells.
Project commissioning
The project construction begins in autumn 2021 and commissioning is scheduled for early 2024
In addition, the scope of work covered the grid, Power purchase agreement and financial model review, engineering, procurement, and construction, and operations and maintenance agreements.
The project construction begins in autumn 2021 and commissioning is scheduled for early 2024. It is estimated to generate sales of around 17 million euros for local businesses. The power generated by CEOG will be distributed in French Guiana’s grid and its production will be framed in a 25-year contract.
Financing competency
“Being recognized as bankable with Technical Due Diligence performed by DNV is a success for HDF Energy’s Renewstable® solution. This strengthens our capability to develop and get financing for our worldwide pipeline of hydrogen power projects."
"DNV’s team has excellent competencies in hydrogen and hybrid power plants. They brought deep insights about the technology and supported the project from the beginning,” said Damien Havard, CEO of HDF Energy.
green electricity
Decarbonized power plants are an important aspect of transitioning towards a clean energy future"
“We are proud to provide our combined energy expertise to the world's largest green hydrogen-power project to the date, we aim to enable green electricity to close the gap to meet Paris ambitions. Decarbonized power plants are an important aspect of transitioning towards a clean energy future."
"Our senior experience for all technology involved including solar PV, battery systems, and hydrogen technology was a key differentiator during the selection process,” said Santiago Blanco, Executive Vice President and Regional Director, Southern Europe, Middle East, Africa, and Latin America, Energy Systems at DNV.
Forecast for hydrogen production
DNV’s Energy Transition Outlook forecasts that the future production of hydrogen for energy purposes will be dominated by electrolysis using dedicated off-grid renewables, such as solar and wind farms.
By 2050, 18% of hydrogen will be grid-based and 43% will come from dedicated capacity comprising solar PV (16%), onshore wind (16%), and fixed offshore wind (9%).
