CDB approves financing for Anguilla solar photovoltaic plant
[su_pullquote]”The installation of the Solar Photovoltaic Plant will help reduce the nation’s reliance on imported petroleum fuel for its energy requirements.” – Andrew Dupigny, CDB’s Director of Projects (ag)[/su_pullquote]BRIDGETOWN, Barbados— The Caribbean Development Bank’s (CDB) Board of Directors o July 16,approved a US$2.341M loan to finance the installation and commissioning of a 1-Megawatt Solar Pholtovoltaic Plant at Corito.
The plant will enable the Anguilla Electricity Company Limited (ANGLEC) to introduce renewable energy into the energy mix for electricity production. The Project will also allow the utility company to examine and assess the response of its power system to the incorporation of an intermittent renewable energy source.
It is CDB’s sixth intervention in the energy sector in Anguilla and supports the Government of Anguilla’s goal of transforming the country into a carbon-neutral economy. [su_box title=”Caribbean Development Bank” style=”soft” box_color=”#54c0f0″]The Caribbean Development Bank (CDB), is a regional financial institution which was established by an Agreement signed on October 18, 1969, in Kingston, Jamaica, and entered into force on January 26, 1970. The Bank came into existence for the purpose of contributing to the harmonious economic growth and development of the member countries in the Caribbean and promoting economic cooperation and integration among them, having special and urgent regard to the needs of the less developed members of the region (Article 1 of the Agreement establishing CDB). In the Revised Treaty of Chaguaramas, the CDB is recognised as and Associate Institution of CARICOM[/su_box]
Anguilla’s 2008 National Energy Policy presents a vision for the country’s future as one of energy independence, with the island meeting its energy needs from reliable, affordable and renewable energy resources. The Government of Anguilla (GOA) has set a national target of producing 30 per cent of its electricity from renewable sources by 2030 and cutting greenhouse gas emissions.
The installation of the Solar Photovoltaic Plant will help reduce the nation’s reliance on imported petroleum fuel for its energy requirements,” said Andrew Dupigny, CDB’s Director of Projects (ag).
To ensure sustainability of the Project, the contractor’s scope of works includes training for ANGLEC’s staff to help them develop the skills required to maintain and operate the solar PV plant. The power plant will be designed, operated and maintained to guarantee at least 20 years of operation, within the design parameters.
The Project aligns with CDB’s strategic objective of supporting inclusive and sustainable growth and development, and the Bank’s corporate priority of promoting environmental sustainability. In addition, it supports a key area of focus in CDB’s Energy Sector Policy and Strategy—promoting infrastructure to provide an affordable, clean, sustainable and reliable energy supply. (CDB Press Release)