02.12.09

Agreement on green energy signed in Seychelles

Posted in Business and Economy, International Organisations, International relations, Seychelles government, Seychelles offshore jurisdiction at 10:24 am by Robert Klien

On January 19, 2009, the agreement to develop renewable energy including wind and solar power was signed with the Abu Dhabi future energy company Masdar. President James Michel said that this agreement is good for Seychelles.

When President Michel had talks with Dr Sultan Al Jaber, Chief Executive Officer of Masdar, future cooperation between Seychelles and Abu Dhabi was the main focus.

The President addressed the World Energy Summit in Abu Dhabi, United Arab Emirates. He said that Masdar has already done the pre-feasibility work and now it will make a progress towards a full feasibility study.

Masdar is looking at methods to tap wind power in order to generate electricity. Previously, there has been research in Seychelles on renewable energy, but the projects are the 1st major initiatives in this field in Seychelles.

According to Michel, his 2 days at the summit gave him the opportunity to publicise the offshore jurisdiction and to establish contacts with leaders in the renewable energy sector as well as to encourage investment into Seychelles.

Comments are closed.