The Barbados government and the Inter-American Development Bank (IDB) have signed a US$34 million loan agreement to finance a project to use cleaner fuels and renewable energy in Barbados. Specifically, the program will upgrade natural gas infrastructure and integrate smart energy solutions and renewable energy into the Barbados energy matrix. The Minister of Finance and Economic Affairs, Christopher Sinckler, and IDB representative, Juan Carlos De La Hoz Viñas, signed the document on Wednesday.
Sinckler explained, “The programme aims at enhancing Barbados’ energy security and sustainability by diversifying the energy mix through promoting the use of cleaner fuels, specifically natural gas for power generation; and increasing the use of renewable energy sources.”
According to him, the programme’s specific objectives include upgrading the natural gas infrastructure to ensure that the natural gas service to the country would continue at the high-quality Barbadians had come to know and expect. He added that they wanted to increase energy efficiency/renewable energy applications within the National Petroleum Corporation and the Barbados National Oil Company Limited operations to reduce greenhouse gas emissions.
Sinckler added that the government’s vision was to have a sustainable renewable energy sector within the foreseeable future, with natural gas being the transitional fuel within this period.
