MCB & Omnicane Launch Fund, Targeting 7,000 Tonnes CO2 Reduction

MCB Group Ltd and Omnicane Ltd have joined forces to establish a dedicated investment vehicle aimed at financing renewable energy projects across Mauritius and the wider region. The partnership’s inaugural project is already underway: a 4.8 MW photovoltaic (solar) power station currently under construction at Poudre d’Or in the north of the island, part of the CEB’s MSDG programme.

Project Details and Environmental Impact

The new investment vehicle will focus on solar, hydro, and wind energy initiatives. The Poudre d’Or solar plant, built by Ecoasis Energy Solutions Ltd, is scheduled for commissioning in April 2026.

• It will feature approximately 8,200 solar panels spread across four hectares.
• The project includes two solar parks linked to MCB Ltd and Omnicane Milling Ltd, in collaboration with Calycé International.
• The installation is expected to produce nearly 7,700 MWh per year.
• Crucially, this is projected to reduce CO2 emissions by approximately 7,000 tonnes annually.
• The project will also integrate agrivoltaic practices to help bolster food security.

Financial Structure and Leadership Views

Initial funding for the investment vehicle will be secured through shareholder funds and a green bond. This green bond is compliant with the ICMA principles and was structured and advised by MCB Financial Advisers.

The alliance is positioned as a significant step towards national renewable energy goals.

Quotes from key leaders:

• Jacques M. d’Unienville, CEO of Omnicane Ltd: “This partnership paves the way for the deployment of renewable energy projects in Mauritius and the region.”
• Rony Lam, CEO of MCB Capital Markets: “This agreement brings together the necessary skills to deliver a carbon emissions reduction project.”
• Eric Boban, CEO of Calycé: He noted the formation of “a long-term collaboration supported by a favourable governance framework.”

Context: National Energy Objectives

This development aligns directly with Mauritius’s broader national objective to significantly increase the proportion of renewable energy and reduce the use of coal by 2035.

Source: Defi Media