Grand Bahama Power Company has announced its latest Power Purchase Agreement (PPA) with the Independent Power Producer (IPP) Bahamas Solar and Renewables. The agreement will see one of the largest renewable energy plants built on the island.
The new solar plant will provide an approximate capacity of five megawatts of clean renewable energy. The project is expected to create new jobs in the construction sector and provide a significant boost to the local economy.
The renewable energy plant will be built using the latest solar technology and will help to reduce the island’s carbon footprint. It will also provide a reliable source of electricity for residents and businesses, reducing dependence on fossil fuels and increasing energy independence.
“We are excited to be working with Bahamas Solar and Renewables to bring this important project to Grand Bahama,” said Dave McGregor, President of Grand Bahama Power Company. “This renewable energy plant will not only provide clean, reliable power to the island, but it will also reduce our dependence on expensive imported oil.”
The PPA between Grand Bahama Power Company and Bahamas Solar and Renewables demonstrates a commitment to sustainable energy and environmental responsibility. By investing in renewable energy, the companies are helping to build a brighter future for the people of Grand Bahama.
“We are thrilled to be working with Grand Bahama Power Company, particularly as we expand opportunities for Bahamians to access training and develop new skills in the renewable energy sector,” said Dexter Adderley, President and CEO of FOCOL Holdings Limited, the parent company of Bahamas Solar and Renewables. “This rapidly growing industry requires a workforce with the necessary knowledge and skills to meet the demands of this sector. Already, 20 staff members are enrolled in international training programs so that they are equipped with the skills and certifications necessary to ensure that our operations are conducted safely and efficiently.” He added, “This reflects our commitment to creating a more sustainable, cleaner future for The Bahamas.”
The Grand Bahama Port Authority (GBPA) is the regulatory authority responsible for overseeing the island’s power sector and promoting sustainable energy practices and recognizes the importance of adopting renewable energy sources to secure a more sustainable future for Grand Bahama. Accordingly, the GBPA is pleased that its regulatory framework, updated in 2013, is now paving the way for investments in renewable energy projects. The signing of this agreement will introduce solar technology to enable the generation and sale of affordable electricity to the grid using solar power. This innovative approach is a significant step towards reducing the island’s dependence on fossil fuels and promoting cleaner, more sustainable energy sources.
“We are excited to witness this milestone and are committed to supporting the growth and development of renewable energy in Grand Bahama,” says Ian Rolle, President of GBPA. “This modern and innovative approach aligns perfectly with our Renewable Energy strategy to promote the adoption of sustainable energy practices throughout the island.”
Construction on the renewable energy plant is expected to begin later this year and is expected to be completed before the summer of 2024. Grand Bahama Power Company and Bahamas Solar and Renewables look forward to working together to bring this important project to fruition and to continue supporting the growth and development of Grand Bahama.