Barbados - New Energy Events

Barbados launches world’s first debt-for-climate resilience swap
December 6, 2024
Barbados has implemented the world’s first “debt-for-climate resilience” swap, unlocking US$165 million for climate adaptation projects. The deal allocates US$125 million to upgrade sewage treatment plants, improving water supplies and reducing marine pollution, alongside investments in water infrastructure, food security, and environmental protection to combat climate change effects. Source: Reuters
Barbados to launch BESS procurement to address grid capacity issues and advance solar projects
August 1, 2024
The Barbados Ministry of Energy and Business is hosting a three-day workshop to finalize plans for acquiring Battery Energy Storage Systems (BESS). This is a key step to resolve grid capacity issues and advance stalled solar projects. Source: Business Barbados
Barbados plans to boost onshore wind power expansion
July 5, 2024
The Government of Barbados, with the support of the International Finance Corporation (IFC), is ramping up its climate change mitigation and energy diversification efforts by expanding its onshore wind power capacity. Source: Wind Insider
Seabased to Develop 10 MW Wave Power Park in Barbados for Green Hydrogen R&D
June 19, 2024
Dublin based company, Seabased, has entered into an MoU with the Barbados Investment and Development Corporation (BIDC) to develop a wave power park in Barbados. Initially starting with a 2 MW pilot and expanding to at least 10 MW, this project supports Barbados’ efforts in advancing green hydrogen research and development. Source: Renewables Now
Turks and Caicos Islands, Grenada, and Barbados explore Ocean Thermal Energy Conversion (OTEC)
March 28, 2024
Ocean Thermal Energy Conversion (OTEC) is back in the mix in the Caribbean as countries look for sustainable energy alternatives. Recent meetings between the governments of Turks and Caicos Islands, Grenada, and Barbados have spurred interest in exploring OTEC as part of their renewable energy transition. Source: Environment Energy Leader
IDB supports Barbados’ sustainable development goals with US$100 million loan
February 15, 2024
The Inter-American Development Bank has approved a US$100 million loan for Barbados to advance its sustainable development goals by modernizing policies and regulations. Source: IADB
The government of Barbados recruits IFC as the lead transaction adviser for its first utility-scale onshore wind farm project
December 7, 2023
The government of Barbados has chosen the International Finance Corporation (IFC) as the lead transaction adviser for its first utility-scale onshore wind farm project. The wind farm, named the Lamberts project, is projected to have a capacity of 30-50 MW and will be situated in the northeastern part of the island. The partnership agreement between […]
The Green Climate Fund (GCF) and IFC team up to invest in increasing energy grid resilience in Barbados
October 27, 2023
The Green Climate Fund (GCF) has approved the provision of up to $41 million in blended concessional financing to support IFC’s proposed investment in RenewStable Barbados, a 50 MW solar generation facility with green hydrogen and lithium-ion battery storage that will provide clean and stable electricity to the Barbadian grid. Source: Pressroom IFC
CAF plans to expand operations in the Caribbean
August 17, 2023
CAF announced its plan to expand operations in the Caribbean to address the financial needs of the region. They also announced they will finance up to US$50 million to match Barbados funding pool in its blue economy initiative. Source: Trinidad Express