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Meridiam ties up with HDF Energy in CEOG project, French Guiana

CEOG Project (Image credit : HDF Energy)

JAKARTA (RambuEnergy.com) – Meridiam, an independent French investment firm specializing in the development, financing, and management of long-term and sustainable public infrastructure projects, has teamed with HDF Energy in developing a renewable energy project called CEOG (Centrale Électrique de l’Ouest Guyanais) located in the town of Mana, French Guiana.

HDF Energy claimed that the CEOG project, is currently the greatest project worldwide of a power generating plant storing intermittent renewable energy using hydrogen.

The project is scheduled to be commissioned in 2020, with an aim to produce a stable, non-polluting electricity for the benefit of the inhabitants of western French Guiana.

Meridiam, which engages 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, HDF Energy said in a press statement.

Meridiam is thus strengthening its portfolio of renewable energy projects.

Mathieu Gèze, HDF Energy’s International Development Manager who is in charge of the company’s development in Asia, told RambuEnergy.com that the company is developing such Renewstable® projects in South-East Asia as the geographical and energy context fit well with the added values of such projects, especially in a country like Indonesia.

HDF is an inventor of the Renewstable® power plant. The company is a 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 connected to the EDF station in SaintLaurent-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. Julien Touati, Partner and Development Director of Meridiam.

“We are pleased to support HDF Energy in its ambition to be one of the world leaders in stable electricity production from renewable energy and to partner with them in this high-impact project for French Guiana,” Julien Touati said.

The Renewstable® is a solution for the future, but economically viable today in a territory like French Guiana, and CEOG is proof of this.

CEOG is also a concrete contribution to the hydrogen deployment plan announced by the French Government in June 2017, which aims to make overseas areas pilot territories. This partnership with HDF Energy illustrates Meridiam’s proactive approach to meeting the challenge of energy transition.

Damien Havard, CEO of HDF Energy  said that the investment of Meridiam validates the relevance of HDF Energy’s business model and allows HDF to benefit from the long-term support of a renowned and reputable investor in the energy sector.

“This partnership will speed up the development of the CEOG plant, the first of its kind in the world, and under close international scrutiny. This milestone reinforces HDF Energy’s ambition to become a global player in the energy transition,” said Havard.

Construction of the project 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-locatable jobs over the 20 years of operation of the plant. (*)

Written by Staff Writer

Edited by Roffie Kurniawan (email: roffie.kurniawan@gmail.com)

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