French investment firm and asset manager Meridiam has agreed to acquire a 60% holding in the Centrale Electrique de l’Ouest Guyanais (CEOG) project – a 55 MW PV park and 140 MWh hydrogen-based storage station.
The project, in French Guiana, is set to be commissioned in 2020, Meridiam said in a statement. “This investment is a further illustration of Meridiam’s voluntary approach to meeting the challenge of the energy transition – in the same way as electric mobility, biogas and biomass, or energy efficiency and demand management – sectors in which Meridiam has also invested,” the French investor added.
The CEOG project was launched by developer and French hydrogen specialist HDF Energy in late May. At the time, the company said the value of the facility was estimated at around $90 million.
The plant is being built near Saint-Laurent-du-Maroni in northwestern French Guiana, and is planned to provide power to local households and the municipality of Mana.
HDF claims CEOG is the world’s biggest power plant project worldwide storing intermittent renewable energy using hydrogen. It would claim the title from a project under development by Tesla and Neoen in Australia, which has a marginally lower capacity of 129 MWh.
Meridiam is also active in solar in Senegal, where it is building two PV projects totaling 60 MW, in partnership with French energy group Engie.