Cygnum Capital in Seychelles energy deal
Fund provides $5.7 million loan for Qair’s Seychelles renewable assets.
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The Facility for Energy Inclusion, managed by Cygnum Capital, will act as sole lender for a $5.7 million senior debt facility to finance Qair Group renewable energy assets in the Seychelles.
This financing will be used for the development, building, operation and maintenance of a 5.80 MWp floating PV plant located in the Providence Lagoon on Mahé Island.
The plant will play a critical role in advancing Seychelles’ energy diversification efforts, reducing reliance on imported fossil fuels, stabilising electricity costs and taking a significant step toward achieving the national target of sourcing 15% of energy from renewables by 2030.
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