Largest hydrogen power generation and storage project in the Caribbean, Renewstable
®
Barbados (“RSB”) is the second hydrogen-electricity project developed by Hydrogène de France to welcome a majority investor.
-
Hybrid power plant project producing clean, stable and competitive electricity, 24 hours a day, without polluting emissions;
-
Basic electricity production for 16,000 Barbadians using solar energy and locally produced green hydrogen;
-
Majority equity contribution provided by Rubis as a shareholder alongside HDF.
Bordeaux, February 16, 2022
– Hydrogène de France (“HDF Energy” or the “Company”) – Euronext Paris: HDF – announces that Renewstable® Barbados (“RSB”), the largest hydrogen production project in the Caribbean has reached another major milestone of development with the entry of Rubis into the capital at 51%. This investment follows the strategic agreement signed between the two energy companies in June 2021. HDF Energy is also in active discussion with the Barbados Sustainable Energy Cooperative Society
[1]
for an entry up to 30% of the project before its construction.
The largest completely clean hybrid power plant in the Caribbean, committed to local development
Developed by HDF Energy, RSB is a large power plant project that will provide clean, resilient, stable and competitive baseload electricity 24/7 to 16,000 residents. Located in St Philip, RSB will help the island state achieve its goal of 100% renewable energy by 2030, without the intermittency issues that typically limit the deployment of solar and wind power on island grids. Using only the sun as its primary source of electricity (50 MW of solar power), RSB combines 128 MWh of green hydrogen and battery storage to provide continuous power generation, day and night.
Carbon-free, RSB has been designed to effectively replace some aging, expensive and polluting equipment that currently burns heavy fuel oil or kerosene. Consuming no raw materials, RSB eliminates exposure to fuel price volatility throughout its 25-year lifespan.
The solar part of RSB is a plant designed on the model of agrivoltaism. Large-scale sheep farming (1,830 head) will be developed on the facilities in order to maintain dual land use and generate sustainable jobs.
RSB will create approximately 200 direct and indirect local jobs during the two-year construction period, and approximately 25 permanent jobs during operation. HDF Energy and Rubis both have their regional headquarters in Barbados and currently employ over 1,500 professionals across the region.
RSB, 2
th
project developed by HDF Energy to welcome investors, launches the duplication of Renewstable power plants
®
worldwide
The RSB project, worth more than 100 million USD, is a duplication of the CEOG project (ww.ceog.fr), the first Renewstable® plant under construction developed by HDF Energy and located in French Guiana. CEOG is built by Siemens Energy. Its financing is built on a classic project financing model. Rubis is also an investor in the capital of CEOG through SARA (the Martinique refinery), alongside HDF Energy and the Meridiam infrastructure fund. The lenders are leading private and institutional banks.
With 18 similar projects already underway and a presence in key geographies, HDF Energy intends to significantly increase the number of its Renewstable® projects and become a global leader in hydrogen energy.
Damien Havard, CEO of HDF Energy
: “We are extremely pleased that Rubis is joining RSB, the second Renewstable project
®
after CEOG. Many similar projects are currently being developed by HDF Energy around the world, using the same proven business model and focusing on valuable baseload power generation for local grids. With this 2
th
project in the development phase, we are strengthening HDF Energy’s unique expertise in hydrogen-energy and the development of major infrastructure projects and anchoring our world leadership in the development of major hydrogen-electricity projects. With its strong commitment to decarbonization and a solid regional presence, Rubis is a partner of choice in the development and financing of our projects. »
Clarisse Gobin-Swiecznik, Deputy CEO of Rubis
“This second investment in a green hydrogen power plant strengthens our collaboration with HDF Energy. We strongly believe in Renewstable technology
®
, already implemented with CEOG, as a viable solution to provide energy at an affordable cost to populations whose energy supply logistics are difficult. This new project demonstrates our desire to develop new low-carbon energy sources, particularly in the countries where Rubis is present. »
Find information about Renewstable® Barbados
on
www.renewstable-barbados.com
ABOUT RUBIS
Founded in 1990, Rubis is an independent French operator in the energy sector, listed on Euronext Paris and recognized on the market for its know-how and the quality of its services. The Group specializes in the distribution of energy and bitumen from supply to the end customer.
Its mission is to provide as many people as possible with regular and reliable access to energy to meet essential needs for mobility, cooking and heating, but also to supply the energy necessary for the operation of industry and professionals.
With more than 4,000 employees, the Group operates in 40 countries in three geographical areas: Africa/Indian Ocean, Caribbean and Europe. Its decentralized organization allows it to operate its activities as closely as possible to local issues.
As part of its diversification strategy in less carbon-intensive energies, in June 2021 Rubis became the second largest shareholder of HDF (hydrogen-electricity specialist) and announced in December 2021 the acquisition of 70 to 80% of Photosol France, a major player in the photovoltaic sector.
Rubis is a signatory of the Global Compact
ABOUT HYDROGEN DE FRANCE (HDF ENERGY)
Hydrogène de France, a world pioneer in hydrogen-electricity, develops power plants
Hydrogen-Power
capacity and participates, through dedicated project companies, in their operation. These plants will provide continuous or on-demand electricity from renewable energies (wind or solar), associated with high-power fuel cells supplied by Hydrogène de France.
Hydrogène de France is developing two power plant models
Hydrogen-Power
:
Renewstable
®
(
POWER-TO-POWER
)
: Multi-megawatt power plants, producing stable electricity, consisting of an intermittent renewable source and a hydrogen chain including on-site energy storage.HyPower
®
(
GAS-TO-POWER
)
: Multi-megawatt power plants producing on-demand electricity from carbon-free hydrogen from gas transmission networks.
Hydrogène de France integrates the key know-how of the fuel cell, within the framework of a memorandum of understanding with Ballard (exclusive license agreement of 7 years), and develops in France (Metropolis of Bordeaux) the first plant in mass production of high-power fuel cells for energy, which will be commissioned in 2023. Through this activity, Hydrogène de France will also address the maritime and data center markets.
Hydrogène de France is thus positioned as a powerful accelerator of the energy transition by supplying non-intermittent and competitive renewable electricity, perfectly adapted to the networks and to demand.
HDF shares have been listed on the regulated market of Euronext Paris compartment B since June 24, 2021.
contacts
|
Investor Relations |
Press relations |
Olivier LAMBERT | Serena BONI |
[1]
Barbados’ first renewable energy cooperative, launched to foster Barbadian investment in the sector, with the goal of fully clean energy generation by 2030
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