São Tomé and Príncipe signed an agreement to develop the first ocean energy project in the SIDS

Supported by the powerful SIDS DOCK Bureau, made up of the Prime Ministers of the Tonga Kingdom and Belize and the President of the Republic of Seychelles and the SIDS DOCK coalition of 32 countries, São Tomé and Príncipe and Global OTEC signed the first global agreement to develop a PPA for the development and deployment of an OE floating platform.

At the initiative of the Global Ocean Energy Alliance (GLOEA), as members and signatories of a Public Private Partnership (PPP), the Government of São Tomé and Príncipe, in a partnership with SIDS DOCK, United Nations Industrial Development Organization (UNIDO) and Global OTEC have reached an important milestone. The signatures of the parties to a Memorandum, mark the basis of a mutual understanding of the legal and commercial parameters surrounding the deployment of OTEC technology for the twin island nation of São Tomé and Príncipe.

Jorge Bom Jesus performed at the Eurostars Universal Hotel in Lisbon, in front of intergovernmental alliances, heads of state of the Small Island Developed States (SIDS), other dignitaries and nation-state representatives, and other private partners to proudly declare the deployment of global OTEC's floating OTEC platform "Dominique" by 2024. Recognizing the magnitude of this project, while expressing a willingness to seek a sustainable alternative to fossil fuel imports, is a huge step towards environmental and economic progress of São Tomé and Príncipe and paves the way for other SIDS. The initial OTEC project will contribute to achieving several UN Sustainable Development Goals, as well as reducing the current levelized cost of electricity (LCOE)  made possible by a significant margin concessionary financing supported by UNIDO.

On September 19th, 2020, the fruitful alliance between Global OTEC and the Government of São Tomé and Príncipe began as a Letter of Expression was submitted to the DOCAS sids Secretariat indicating interest in proceeding with Dominique's offshore deployment. In a matter of months, a Memorandum was signed between SIDS DOCK and Global OTEC. Upon completion of pre-feasibility studies and desktop simulations of the technology, Global OTEC received a personal invitation to São Tomé on a SIDS DOCK Mission. Field studies on the site-specific feasibility of an OTEC plant were carried out in April 2022.

After 53 days, the parties are proud to announce that a Memorandum for the next step has been signed between the Government of the Democratic Republic of São Tomé and Príncipe, SIDS DOCK and Global OTEC. The project will be presented at the International Conference Sustainable Energy in São Tomé in Príncipe, which will take place on July 20 and 21, with online transmission and english interpretation. All information about the event available here.

Source: DGRNE