Barbados’ renewable energy transition is getting a whopping $25 million investment push over the next year, through a rare partnership involving Government, the private sector and labour.
On Thursday, representatives from the Ministry of Energy and Business Development, the Barbados Workers’ Union (BWU) and Emera Caribbean Inc. signed a memorandum of understanding, paving the way for the investment.
Through a partnership with the BWU and the state-owned Barbados National Oil Company Limited (BNOCL), Emera Caribbean, an affiliate of the Barbados Light & Power Company Ltd. (BLPC), will invest in a 10-megawatt solar photovoltaic farm on 32 acres of land at Mangrove, St Philip owned by the BWU.
During the signing ceremony at the BWU’s headquarters, Solidarity House in Harmony Hall, St Michael, Chief Operating Officer of Emera Caribbean Dave McGregor said the partnership should be seen as a vote of confidence in the utility company.
However, pointing to the urgent need for Barbados to wean itself off fossil fuel, he called on Government to also move with urgency in removing barriers so that the investment could be completed within the next 12 months.
McGregor said the continuous rise in the price of oil internationally, which topped US$115 per barrel this week, coupled with the impacts of climate change, required an urgent switch to renewable energy sources.
Barbados is aiming to achieve 100 per cent reliance on renewable energy by 2030. The country currently spends between $600 million and $700 million on fuel imports each year.
“We need to get off fossil fuel. We need to stop spending our hard-earned foreign exchange on fossil fuel. That is why we need to be doing projects like this and doing projects like this with pace. Pace has been missing,” said McGregor.
He expressed disappointment that the BLPC’s 10-megawatt solar photovoltaic plant in Trents, St Lucy, which was commissioned in early 2016, was the only such project of that magnitude on the island to date.
“I know we need to work with the Ministry of Energy and the Fair Trading Commission to remove any and all barriers to getting this project done, done quickly, and done right. The sooner we can do it the sooner we will yield the benefits in getting off that oil. I look forward to working with the Minister and others to start removing some of these barriers that have been slowing down [projects] over the last six years,” the Emera official said.
It is estimated that for Barbados to become fully reliable on renewable forms of energy for its electricity needs by 2030, it will require just about 800 megawatts of energy annually.
McGregor said the new project, which forms part of Emera’s commitment to fight climate change, is expected to generate 21 million kilowatt hours (kWh) – or 21 gigawatt hours – of electricity per year. It is expected to have a battery storage component.
The company is still to obtain the relevant licences and complete the necessary studies. McGregor said if all goes according to plan, the construction “could take as little as eight months”.
Minister of Energy and Business Development Kerrie Symmonds said the partnership should serve as an example for future private sector investment.
He acknowledged the need for Government to act with greater speed in building out the sector and to remove barriers that slow investment, while pledging that he will be “wrestling that technical difficulty to the ground”.
“I pledge that I will do all in my power as the minister responsible to ensure that the necessary things are done and this project can proceed without impediments and we reap the sweet reward of success,” said Symmonds.
Meanwhile, BWU General Secretary Toni Moore said with the island transitioning from fossil fuel to renewable forms of energy, she expected new jobs will be created for Barbadians.
“So we will be interested not in a just transition, and a part of this just transition is just making sure that people who have jobs today will have jobs tomorrow, but that people can flourish in a sustainable environment that can provide sustainable jobs and, therefore, sustainable opportunities for them and their children,” said Moore. marlonmadden@barbadostoday.bb
