Cleanwatts signs an affordable clean energy contract with the government of São Tomé and Príncipe
COIMBRA, Portugal–(BUSINESS WIRE)–Cleanwatts, a leading company in the field of climate technologies, has signed a contract with the government of São Tomé and Príncipe for the production and sale of clean energy at an affordable price. In collaboration with the country’s utility, the Power & Water Company (EMAE), the project will install photovoltaic power plants across the country.
The first phase of the project began with the installation of photovoltaic power plants at the country’s national airport in São Tomé, as well as on the island of Príncipe. The clean energy produced by the installations will be injected directly into the network; the parties expect this project to revolutionize Sao Tome and Principe’s relationship with energy by closing gaps in accessibility and security of supply.
Currently, 76.6% of the population of São Tomé and Príncipe have access to electricity1generated mainly by imported diesel (92%)2. The government of São Tomé and Príncipe is committed to reducing the country’s dependence on fossil fuels and increasing the share of renewable energies from 5% to 50% of the energy mix by 2030.3 The project will therefore allow greater independence in the production of electricity while reducing energy poverty and will create jobs through the employment of local labor in the construction, operation and maintenance of the infrastructure.
The Minister of Infrastructure and Natural Resources of São Tomé and Príncipe, Osvaldo Abreu, welcome the project as “the result of a great joint effort”, and thanked “the institutions, companies and individuals involved”. Mr. Abreu expressed his satisfaction noting that “the panels and other equipment have arrived at the port of Ana Chaves in São Tomé, following delays and uncertainties due to a shortage of maritime transport”.
Michael Pinto, CEO of Cleanwatts, said, “We are delighted to deliver this project to São Tomé and Príncipe. Islands are a promising growth segment for local energy markets and energy communities. Like many islands around the world, São Tomé is highly dependent on a stable and affordable energy supply. What we propose to do in this country is precisely to reduce dependence on imported energy through the production of clean energy from local sources. This will help achieve the country’s decarbonization goals while addressing energy poverty, two fundamental goals of our work. Pinto added, “We look forward to expanding this project into a second phase and expanding the scope of the communities we serve.”
During the realization of this project, Cleanwatts worked closely with Pleno Ambiente STP, a local partner responsible for the installation, operation and maintenance of the solar power plant.
Cleanwatts is a climate technology company focused on improving society’s relationship with energy where it matters most: locally. By simplifying, amplifying and accelerating the energy transition of local authorities, we are responding to the most urgent trilemma of our time: decarbonizing the grid while strengthening energy security and reducing the high cost of energy.
Cleanwatts delivers value by building and managing renewable energy communities, deploying our domain expertise, proprietary technology, financial capital and management capabilities for the benefit of our customers. In a nutshell: energy as a service without initial investment.
Cleanwatts is also a member of IANOS, a Horizon 2020 project developing tailor-made solutions to improve energy and resource efficiency for Europe’s 2,700 islands, while reducing their carbon footprint.
Recently, Verdane, the European investor specializing in growth capital, through its impact fund Idun, invested in Cleanwatts up to 25 million euros, in order to support the growth and international expansion of the company. . Cleanwatts grew revenue by 65% in 2021 and expects revenue growth of over 200% in 2022 and is building a world in which clean energy is decentralized, digitized and democratized.
1 World Bank, 2022. World Development Indicators: Access to Electricity (% of population) | Databank https://databank.worldbank.org/reports.aspx?dsid=2&series=EG.ELC.ACCS.ZS (accessed 23.10.22).
2 African Development Fund, 2020. São Tomé and Príncipe – Energy Transition and Institutional Support Program (ETISP) – P-ST-FAB-002 – ESMF Summary [WWW Document]. African Development Bank – Building today, a better Africa tomorrow. URL https://www.afdb.org/en/documents/sao-tome-e-principe-energy-transition-and-institutional-support-programme-etisp-p-st-fab-002-esmf-summary (accessed 24.10.22).
3 United Nations Sustainable Development Group, 2020. UNSDG | A post-COVID-19 São Tomé and Príncipe: a sustainable future with renewable energy and energy efficiency [WWW Document]. URL: https://unsdg.un.org/latest/blog/post-covid-19-sao-tome-and-principe-sustainable-future-renewable-energy-and-energy, (accessed 24.10.22).