Project Description
This IFC Upstream pre-investment project proposes an IFC contribution of up to USD 250,000 in cost-sharing funding support for Sol Ecolution to conduct essential feasibility, social/environmental, and technical studies for a utility-scale solar PV and Battery Energy Storage System (BESS) in Nevis, West Indies. The project aims to install a ground-mounted solar power plant with BESS, to be implemented in two phases:
• Phase 1: 9.1 MWp DC capacity, 7.0 MW AC capacity, and a 4.5 MW/9 MWh BESS system.
• Phase 2: An additional 2.6 MWp DC capacity and 2.1 MW AC capacity of Solar PV.
The project is intended to increase Nevis's sustainable energy needs. Through this support, IFC will help Sol Ecolution de-risk the project’s development in a new business model and regional market, enhancing the potential for successful financial closure. Furthermore, completing these studies ahead of the engineering, procurement, and construction (EPC) tendering will allow for better capital cost control, which is also crucial for ensuring affordability and economic feasibility of the project.