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Pash Global, a subsidiary of multinational commodity trading company Trafigura Group, has signed a power purchase agreement for renewable energy on the British Overseas Territory of Saint Helena. The project is in line with the South Atlantic island’s aim of investing in renewables, reducing its reliance on diesel and increasing fuel security and price stabilization.

UK-based impact investment company and renewable energy project developer Pash Global has signed a 25-year power purchase agreement (PPA) with the Island of Saint Helena’s sole utility company for the development of a 3.2 MW hybrid-technology microgrid project.

The agreement with Connect Saint Helena Ltd includes a microgrid system for the South Atlantic island that combines a 568kWp/ 500kW solar farm; a 2.7MW wind farm made up of three turbines; and a 3.2MWh/3.5MW energy storage battery.

Switching entirely to renewable energy to meet the majority of its electricity needs will make Saint Helena one of the greenest islands in the British Overseas Territories, Pash said in a statement, noting that the project was in line with the island’s 10-year plan to invest in renewable energy with a view to becoming self-sufficient, increase the production of energy through renewable sources, reduce its reliance on imported fuels such as diesel and increase fuel security and price stabilisation.

Pash co-founder Kofi Owusu Bempah said the project would “deliver the lowest cost of power to Saint Helena and enable the transition towards its net zero emissions target.” It will not only save more than 150,000 metric tons of carbon emissions over its life, but also provide the island “with security of electricity supply from a unique hybrid of renewable sources,” he added.

Pash’s partners on the project include UK merchant banking group Close Brothers and Indian engineering company Sterling and Wilson.