Background

Meridiam is partnering with Hydrogène de France (HDF) – a French company specialized in the development of hydrogen storage solutions – and the SARA – a French company specialized in the distribution of petroleum in French Guiana and the French Caribbean, to develop this innovative and flagship hydrogen-based project.
The project consists of the development, construction, financing, operation and maintenance of a power plant combining a photovoltaic (PV) plant with battery and hydrogen storage. The power plant will deliver a firm capacity of 10MW from 8AM to 8PM and 3MW between 8PM and 8AM. The plant will therefore generate non-intermittent renewable electricity in the North-West region of French Guiana, which faces an important increase in electricity demand on a geographically constrained territory.

Stage:

In Construction

ESG/SDG Key Facts

The project represents a major step in the deployment of a new generation of non-intermittent renewable power plants, therefore offering an alternative to fossil fuel with guaranteed power.
With the support of environmental and regulatory advisors, a detailed environmental study was performed to implement mitigation measures to reduce the environmental impact of the project. Community benefits (tripartite convention and endowment fund) in relation to forest land use are being assed together with the French authorities and the local Amerindian community and the Bushinengués, living in a village located 1.6km from the project.  Agreements with some local villages have been reached, with others ongoing. An agreement between CEOG and the city of Mana was signed in 2022 to finance an endowment fund. Both parties agreed on the statutes and the organization of this fund in late December 2023. The endowment fund was officially created in January 2024, and the first initiatives are being developed during 2024.
An endowment fund is being created with the neighboring village to the project, following the partnership agreement concluded in Q3 2024.

SDG 7 (Affordable and Clean Energy) and SDG 12 (Responsible Consumption and Production) – The Project will provide affordable clean energy to c.10,000 households in the Saint Laurent area in the context of a strong growth of population and energy demand. The project is under construction, which limits its contribution to this Goal. Performance is expected to improve as construction progresses.

SDG 8 (Decent Work and Economic Growth) – The Project will generate local durable employment by creating 200+ jobs during construction and 12 long-term jobs and providing strong educational/training content.

SDG 13 (Climate Action) – The Project will allow power production with significantly lower emissions than the local grid and help to avoid the release of 475,000 tonnes of CO2 while protecting air quality.