Franck Rivas, President of Corexsolar International Mauritius Ltd: "Finding Funding Has Been More Difficult Until Now"
Franck Rivas, founder and president of Corexsolar International Mauritius Ltd, which has several solar farm projects in Mauritius, responds after the press conference held on Tuesday by Energy Minister Patrick Assirvaden. He states that the announced measures will speed up the implementation of photovoltaic farm projects.
Minister Assirvaden announced several measures to encourage renewable energy on Monday. How do you, as an operator, respond to these announcements?
As an energy producer based in Mauritius for the past ten years, we welcome the measures announced by Minister Patrick Assirvaden. The presented plan is ambitious but necessary in the current context.
He indeed announced a series of measures aimed at removing the major obstacles that delay project implementation, including bankability and land-related issues, challenges we have faced in some of our own projects. If these measures are truly implemented, they will significantly accelerate project execution.
We remain optimistic about our role in the country’s energy transition. Our expertise and experience in solar and photovoltaic projects in the Indian Ocean allow us to contribute effectively.
Are these measures sufficient to genuinely stimulate the development of renewable energy in Mauritius, which remains significantly overshadowed by fossil fuels?
In light of global energy tensions, particularly related to conflicts in the Middle East, many countries are accelerating their energy transition. Mauritius is among those countries heavily dependent on fossil fuels and is following this global trend.
Thus, the announced measures are moving in the right direction. The challenge today is clear: we need to increase the share of renewable energies in the national energy mix, both to reduce our carbon footprint and, more importantly, to ensure the country’s energy security against unforeseen events.
It is noted that the plan presented by the minister places great importance on solar energy, particularly photovoltaics, to address both energy and food challenges, along with other initiatives aimed at promoting green energy.
One of the main obstacles faced by solar operators is administrative burdens. In light of the minister’s announcements this Monday, do you think we are on the right track?
Indeed, administrative procedures take a lot of time, which delays project implementation.
We are pleased that the minister announced a series of measures to address this issue.
What about financing, which is also a major challenge for project implementation?
Finding funding has been more difficult until now. We are therefore pleased that the government has found a solution through the Government Support Agreement. The Power Purchase Agreements (PPA), aligned with international standards and backed by state guarantees, will greatly facilitate access to financing. This measure will allow us to move forward more quickly.
What is the current status of Corexsolar International's projects? When will they be operational, and what will their contribution be?
To date, we have completed three photovoltaic farm projects, including SPV Petite-Rivière (5 MWac) and Green Rock Ltd (10 MWac), which will be operational by April 2025, as well as a 1 MWac photovoltaic farm in Grenade, Rodrigues. We have also realized several projects under CEB programs, for both SMEs and individuals.
We have recently started construction on a 15 MWac photovoltaic farm in Le Val, which is expected to be operational before the end of this year. We also have several photovoltaic farm projects with battery storage, ranging from 10 MWac to 30 MWac, in the permitting phase, as well as a 5 MW project intended for public buildings.
