In 2022, the Seychelles’ economy was ranked 165th in the world in gross domestic product (GDP). The country’s economy is dependent on tourism and the export of recreational boats, frozen fish , processed fish, and fresh fish.
In 2016, the Seychelles signed the Paris Climate Agreement, committing to an 26.4% reduction in greenhouse gas emissions by 2030, based on a business-as-usual scenario.
In 2022, volatile oil prices prompted the Seychelles to implement program to use renewable energy to generate 15% of the Seychelles electricity by 2030. The governments long range plan is to use renewable energy to generate 100% of the nation’s electricity.
Power Generation Capabilities
In 2021, 100 % of the people in the Seychelles had access to electricity. In 2021, the state-owned, Public Utilities Corporation used refined petroleum (87.7 %) and renewable energy (12.3 %) to generate electricity across the Seychelles. Solar is the dominant type of renewable energy used to generate electricity in the Seychelles.
Recent renewable energy projects in the Seychelles are as follows:
- 5 MW Solar + 3.3 MWh Energy Storage Project – In December 2022, United Arab Emirates company, Masdar, commissioned the Ile de Romainville solar plus battery storage project on the island of Romainville, which is approximately 1.2 miles east of the nation’s capital Victoria which is on the island of Mahé.
- 5 MW Floating Solar Project – French renewable energy company, Qair is continuing work on a floating solar project in the lagoon of Providence on the island of Mahé. The project is forecast to be commissioned by year-end 2023.
The Seychelles imports all the nation’s refined petroleum for power generation and transportation. In 2021, the Seychelles imported U.S. $172 Million of refined petroleum.
On 24 February 2022, Russia invaded Ukraine, prompting the European Union, United Kingdom, United States, Canada, Japan, South Korea, Australia, and New Zealand to place economic sanctions on Russian imports and exports. As a result, the crude oil and natural gas prices increased by over 50% from May 2021 to May 2022.
In 2021, the Seychelles used diesel fueled generators to provide 87.7% of the nation’s electricity. Expensive refined petroleum imports are accelerating renewables development on this archipelago nation.
Website – “Our Energy Conundrum”
Jack Kerfoot is a scientist, energy expert, and author of the book FUELING AMERICA, An Insider’s Journey and articles for The Hill, one of the largest independent political news sites in the United States. He has been interviewed on over 100 radio, podcast, and television stations from New York City to Los Angeles on numerous energy related topics.