CBS invests in solar power to reduce electricity bills |13 December 2013

In its effort to reduce the cost of its electricity use the Central Bank of Seychelles (CBS) has commissioned a 143 Kilowatt peak (KWp) solar photovoltaic power system which has been installed at the bank.

Altogether 435 solar panels have been installed on the CBS building by Pace Seychelles Ltd, the contractor identified to carry out the project, the largest of its kind in the country so far followed by those installed at the Amalgamated Tobacco Company at Anse Des Genêts earlier this year.

It has taken the contractor some five months to put the panels and necessary connecting systems in place and complete the US $525,000 project which CBS governor Caroline Abel officially launched yesterday after the system went live on Wednesday afternoon when the Public Utilities Corporation turned it on.

Yesterday’s ceremony was held in the presence of CBS staff, members of the energy commission and CBS board.

Addressing those present, governor Abel said the project is the latest initiative geared towards making the bank a greener workplace.

She pointed out that the CBS has recently embarked on several environment-friendly initiatives aimed at enhancing energy efficiency and reducing its carbon footprints. Among some of the other initiatives, the CBS has started reducing its paper use, and is progressively replacing desktop computers with laptops in an effort to reduce energy consumption.

The CBS staff also conducted a tree-planting activity at the Anse Royale beach park earlier this year to help fight coastal erosion.

“The solar photovoltaic power system project was conceived three years ago with the aim of lowering the bank’s electricity bills,” governor Abel said.

She added it is hoped its success will encourage other institutions to consider the environment and adopt a greener approach in their operations and raise awareness on efficient and sustainable energy production.

Ms Abel also announced that the CBS is engaged in putting in place enabling policies which will provide a conducive environment for such investments to take place in support of the government’s ongoing effort to promote renewable energy initiatives.

She noted that as the bank marks its 35th anniversary it endeavours to not only contribute to the country’s economic development but also foster a sustainable environment.

Following the launch, Tony Pace, chief executive of Pace Seychelles Ltd, thanked all stakeholders, partners, the Pace team and everyone who have contributed to the successful realisation of the project.

Mr Pace commended the CBS “for taking the initiative to make a significant impact on the environment with the installation of the photovoltaic plant.”

He highlighted that “the installation is of the highest quality in technology and engineering design, ensuring that the CBS and the environment will enjoy the many benefits of clean energy for at least the next two decades”.

Through a short power-point presentation those present were able to review the project from its conception stage until its commissioning and subsequent launch yesterday.

The solar photovoltaic power system also includes nine inverters and a real time monitoring
software.

It is estimated that the energy produced by the system will help the bank recover its investment in five years.

Russel Moustache, the CBS project manager, said the system is connected to the PUC’s power grid and any excess electricity produced will be stored there. He pointed out that the new system which is quite a costly investment will have long term benefits for the bank and it expects to reduce its electricity costs by 30 to 35% per month.