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Inter-American Development Bank’s Chief of Operations, Francisco Javier Urra, delivering remarks.

IDB supportive of renewable energy efforts

Barbados is being commended for leading by example in respect of the development of the renewable energy sector.

The kudos have come from the Inter-American Development Bank’s Chief of Operations, Francisco Javier Urra. He spoke to this while delivering remarks at the recent
commissioning of the Solar Photo Voltaic (PV) System at the Engineering Department of the Grantley Adams International Airport, the largest system of its kind that has been installed under the Public Sector Smart Energy Programme (PSSEP).

According to Urra, that system will move the PSSEP another step closer to its goal of saving Barbados more than US$11.8 million and avoiding 32 500 tonnes of carbon dioxide. He made the point while noting that 15 other public institutions or buildings have also benefited from the installation of similar solar PV systems.

Referring to the PSSEP, he explained that it is being financed by a US$17 million loan provided by the Inter-American Development Bank (IDB) and a USD$7.6 million grant provided by the European Union (EU). The IDB’s Chief of Operations said the cooperation between the Ministry of Energy, the EU and the IDB goes even further, noting that this year they approved the Smart Fund II, which he stated they are looking forward to signing the loan and grant documents for in the coming weeks.

“More and more, solar PV technology is becoming a better alternative to imported fossil fuels generation. The prices of solar PV systems have dropped more than 50 per cent in the last seven years and, storage technologies, such as lithium-ion batteries, are also dropping the costs at a rapid rate, therefore making these technologies more economic and viable. In that sense, our support to Barbados in the area of energy doesn’t only go to financing this important event – we had the opportunity a month ago with the vice presidents of the IDB to discuss with Minister Abrahams to support Barbados in exploring renewable energies of the future,” he added.

“In that sense, by flipping the switch today, we once again connect the generation of new renewable energy to the grid and take another step towards fulfilling the energy policy target for 100 per cent renewables and carbon neutrality… Today, commissioning this solar and renewable energy [system] into the grid gives an idea about how working towards renewable energy is also working towards efficiency and reliability of the system as a whole.”

With that in mind, he said the commissioning of the GAIA system will assist in not only improving the lives of Barbadians, but improving the competitiveness of the country by having an airport that will be more reliable and self-sufficient.
(JRT)

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