Omnicane and International Finance Corporation (IFC) signed a pioneering Collaboration Agreement. This strategic partnership aims to drive Omnicane's transition from coal-based power generation to sustainable biomass, leveraging on both locally sourced biomass and imported environmentally friendly biomass feedstock. The focus of this initiative is Omnicane's thermal power plants situated in the southern region of Mauritius.

This joint Agreement confirms the Parties’ commitment towards the national objective to reach 60% of renewable energy production in the electricity mix by 2030, in line with the country’s transition from a fossil-based energy system of power generation and consumption to a greener one.

The scope of the Collaboration between Omnicane and IFC is multifaceted, reflecting the partners' commitment to a holistic and rigorous evaluation of the proposed project. Key components include:

1. an environmental and social risk review:
2. a financial, economic, and climate analysis:
3. a preliminary financial model; and,
4. the identification of climate-focused financing solutions.

Through this strategic partnership, Omnicane and IFC are demonstrating their shared commitment to driving sustainable development, mitigating climate change impacts, and fostering energy security in Mauritius. The Agreement paves the way for informed decision-making and a transition towards a greener, more resilient energy future for the island nation and fully aligns with national priorities and positions Mauritius as a leader in sustainable energy adoption within the Small Island Developing State (SIDS) community.

“We view this collaboration as a transformative milestone, paving the way for deeper engagement and activating further progress towards a sustainable energy future for Mauritius and beyond. By fortifying our efforts with IFC's global knowledge and financial resources, Omnicane is ready to amplify its positive impact and contribute substantially, through innovation and strategic initiatives, towards the vision and set targets of the Government of Mauritius.” says Jacques M d’Unienville, CEO of Omnicane.

“Omnicane remains steadfastly dedicated to supporting our sustainable development initiatives. Our various initiatives, including our involvement in the COP28 summit in Dubai last year, exemplifies our commitment to address climate change and promote environmental stewardship. This agreement with International Finance Corporation (IFC) signifies a pivotal alignment between Omnicane's vision and the National Energy Transition objectives. This partnership not only validates our environmental endeavors but also unlocks invaluable expertise from a renowned institution like IFC.” says Jacques M d’Unienville, CEO of Omnicane.

Mr Jacques M. d’Unienville, CEO of Omnicane & Mr Adamou Labara, IFC Country Manager for Mauritius

“IFC is thrilled to collaborate with Omnicane in this groundbreaking project to convert a powerplant to complete reliance on renewable fuel sources,” says Adamou Labara, IFC Country Manager for Mauritius. “Together, we are carving out new climate-smart pathways to unlock investment opportunities for inclusive, sustainable economic growth in Mauritius that can be replicated across the continent.”

Mauritius is a SIDS in the Indian Ocean, vulnerable to the impact of climate change. While Mauritius contributes a mere 0.01% to global carbon dioxide emissions, it is committed to playing its part in mitigating climate change. The government's determination is reflected in its ambitious target of substantially reducing greenhouse gas, thus aligning with its international commitments. At the core of its strategy lies an ambitious objective: phasing out of coal in the generation of electricity, thereby reducing greenhouse gas (GHG) emissions by 40% by 2030. This move not only underscores Mauritius' commitment to sustainable development but also positions the nation as a trailblazer in the global efforts to transition towards clean and renewable energy sources.