Barbados launches energy modernization programme

Barbados has officially launched its energy programme to drive investment towards renewable energy and modern natural gas infrastructure.  The project is being funded through a US$34 million loan from the Inter-American Development Bank (IDB). Senator Darcy Boyce, Minister of Energy for Barbados, said the programme formed part of the island’s thrust towards becoming one of the greenest economies in the Western Hemisphere. He said the new project should result in a reduction in operation costs for the Barbados National Oil Company Ltd and the National Petroleum Corporation (NPC), which will have oversight of the project. “Further, the project gets the national oil company into becoming a major producer of renewable energy, either by wind or solar, or both,” Boyce said.

The project has three components, the first of which will cost just over US$25 million, and involves the expansion and upgrade of the natural gas infrastructure. The second component will cost US$3.35 million and will see the installation of photovoltaic systems, as well as energy efficient systems in administrative buildings, while the third component, costing US$4.05 million, will consist of technical advisory services, including the training of staff, as well as various studies. The remaining US$1.6 million will be spent on evaluation , as well as management and monitoring efforts.

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