Solarcentury Africa Achieves Financial Close on a 14 MWh Battery Energy Storage Project in Gibraltar

21st May 2024

• The project has reached financial close with funding being provided by Solarcentury Africa, supported by its shareholder BB Energy, and the Government of Gibraltar

• Solarcentury Africa, His Majesty’s Government of Gibraltar and the Gibraltar Electricity Authority have entered into a build, own, operate and transfer agreement for a 14 MWh (AC) battery energy storage system to be located next to the North Mole Power Station in Gibraltar

• Solarcentury Africa, His Majesty’s Government of Gibraltar and the Gibraltar Electricity Authority have entered into a build, own, operate and transfer agreement for a 14 MWh (AC) battery energy storage system to be located next to the North Mole Power Station in Gibraltar
 


BB Energy subsidiary, Solarcentury Africa, in collaboration with His Majesty’s Government of Gibraltar (“HMGoG”) and the Gibraltar Electricity Authority (“GEA”), is pleased to announce the financial close for a 14 MW / 14 MWh battery energy storage system (“BESS”) project. This significant milestone marks a transformative era in Gibraltar's energy landscape, aimed at improving reliability of the power system in Gibraltar and reducing reliance on diesel back-up generators.

Solarcentury Africa has signed a build, own, operate and transfer (“BOOT”) agreement to deliver a state-of-the-art BESS at the North Mole Power Station. The BESS will provide frequency support and assist with load variations and disturbances in the network as well as significantly reducing back-up power costs and carbon emissions. This project underscores Gibraltar’s commitment to sustainable energy solutions and positions it as a leader in the adoption of innovative energy technologies. It is a key component of Gibraltar's broader strategy to embrace renewable energy sources such as solar power and enhance its energy infrastructure including electric car chargers.

The project is being jointly funded by Solarcentury Africa, with the support of its shareholder BB Energy, and the Government of Gibraltar. The BESS is scheduled to be fully operational by the summer 2025. The total cost of the project to HMGoG will be £16.5 million.

Left to Right : Glendon Martinez, Director of Zero Carbon Footprint Limited - Gemma Arias-Vasquez, Minister for Health, Care and Business - Tom Gray, Head of Legal Solarcentury Africa - Michael Caetano, CEO of the Gibraltar Electricity Authority
 

Solarcentury Africa has appointed Calpe Electrical Ltd (“Calpe”), a well-established Gibraltarian contractor with experience in energy infrastructure, as the engineering, procurement, and construction (“EPC”) contractor for the project. SunGrow is the BESS equipment supplier.

"We are thrilled to reach this critical juncture in our partnership with HMGoG and the GEA," said Jason De Carteret, CEO of Solarcentury Africa. "This project not only aligns with our mission to deliver sustainable energy solutions but also demonstrates Gibraltar's forward-thinking approach to energy management. We look forward to seeing the positive impacts this BESS will bring to the country."

The Government of Gibraltar, through the Minister with responsibility for the Electricity Authority, the Hon Gemma Arias-Vasquez, said, “I am absolutely delighted that we have been able to sign the agreement for the BESS. This is a significant investment which will provide a greener, more resilient future for Gibraltar. It is important to understand, however, that the new Battery will not be able to eliminate power cuts completely. It will, however, significantly mitigate against power cuts caused by a failure in the power station. To put things into perspective, since 2020 16 power cuts would have been avoided had we had the BESS system in place. I am therefore very pleased that we have been able to sign the agreements and would like to thank everyone involved in the project for their efforts, including my predecessor Albert Isola who commenced this project.”

For more information about the project and future updates, please contact:
enquiries@solarcenturyafrica.com

About Solarcentury Africa
Solarcentury Africa is one of the leading renewable energy developers with over ten years of experience working on renewable projects. Headquartered in the UK it is a market leader in the development of solar PV and energy storage projects using smart energy technology and controls. Solarcentury Africa’s projects, partnerships and technologies generate clean power for investors, businesses and communities. Solarcentury Africa is part of the BB Energy Group.

About the Gibraltar Electricity Authority
The Gibraltar Electricity Authority is responsible for the generation and distribution of electricity in Gibraltar. The Authority is committed to ensuring a reliable and sustainable energy supply for the community and is focussed on reducing carbon emissions and improving reliability.

About BB Energy
BB Energy was founded in the 1960s and today is one of the world’s leading independent energy trading companies, with a fast-growing renewable energy and emission reduction division. The company has some 500 employees in 12 offices around the world, with key trading hubs in London, Dubai, Houston and Singapore.

Media Contacts

Karim Bassatne
Head of Corporate Communications
T: +971 4 432 8300
E: corporatecommunications@bbenergy.com