SBM Bank Ltd Funds Stor’Sun IV to Provide 8 % of National Energy Demand

State Bank of Mauritius has announced it is financing the Stor’Sun IV renewable energy project, a move set to provide approximately 8% of the nation’s total electricity demand.

Developed by pan-African renewable energy firm Qair, the project represents a significant leap in the island’s energy resilience.

Once operational, the Stor’Sun initiative is expected to stabilise the national grid and drastically reduce reliance on imported fossil fuels.

A Growing Hybrid Powerhouse

The Stor’Sun IV development follows the successful financing of Stor’Sun I and II.

These large-scale hybrid plants combine solar power with advanced battery storage, boasting a combined capacity of 60 MWac and 256 MWh of storage.

This infrastructure is designed to feed directly into the Central Electricity Board (CEB) grid, ensuring a reliable flow of “clean” energy even when the sun isn’t shining.

Strategic Partnerships

The collaboration cements a long-term relationship between the financial institution and the energy developer.

• Rita Gujadhur, Officer-in-Charge at SBM Bank (Mauritius) Ltd, described the funding as a “key milestone” in developing innovative energy infrastructure. She noted that the bank’s role goes beyond simple lending to actively shaping a “sustainable and resilient future for Mauritius.”
• Olivier Gaering, Qair’s Regional Director for the Indian Ocean, expressed gratitude for the bank’s “strategic support,” hailing SBM as a “trusted long-term partner.”

Environmental Impact

The project is being positioned as a blueprint for future hybrid systems across Africa.

By integrating large-scale battery storage, the Stor’Sun model addresses the traditional intermittency of solar power, providing a steady supply of electricity while lowering carbon emissions.

According to Qair, the project demonstrates how tailored storage solutions can transform access to reliable, green energy on a continental scale.

Source: Le Mauricien