HDF Energy Announces Meridiam's Investment in CEOG, Currently the Greatest Project Worldwide of a Power Generating Plant Storing Intermittent Renewable Energy Using Hydrogen
The CEOG (Centrale Électrique de l'Ouest Guyanais) project has a new equity partner in Meridiam, a long-term investor whose Transition Fund is dedicated to infrastructure projects related to energy transition. This operation is accelerating the development of the project, which is scheduled to be commissioned in 2020 to produce stable, non-polluting electricity for the benefit of the inhabitants of western French Guiana.
Meridiam, a leader in the development, investment and long-term management of infrastructure projects, managing 6.2 billion euros in assets, is acquiring 60% of CEOG alongside HDF Energy to finance and develop this project. Meridiam is thus strengthening its portfolio of renewable energy projects.
Inventor of the Renewstable ® power plant, HDF Energy is the world's leading producer of stable electricity from intermittent energy sources, combining a 55 MW photovoltaic park with the world's largest 140 MWh hydrogen-based renewable energy storage capacity, coupled with battery backup storage. This combination allows stable electricity to be produced over the long term with 100% clean energy.
The CEOG plant will be located in the town of Mana. Connected to the EDF station in Saint-Laurent-du-Maroni, it will produce a fixed daily electrical output of 10 MW during the day (until the evening) and 3 MW at night over 20 years. With stable and guaranteed power generation, the CEOG plant's service will be equivalent to that provided by diesel or gas-fired power plants, but without the downside of pollution or fuel supply logistics. CEOG's electricity price will be lower than the current production cost in western French Guiana, and without being subsidised.
Construction is scheduled to begin in the summer of 2019 and the plant should be in operation by the autumn of 2020. CEOG will create around 100 jobs during construction and around 30 permanent, non-relocatable jobs over the 20 years of operation of the plant.
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