CDB approves financing for solar photovoltaic plant in Anguilla

On Thursday July 16, the Caribbean Development Bank’s (CDB) Board of Directors approved a USD2.341 million loan to finance the installation and commissioning of a 1 Megawatt Solar Pholtovoltaic Plant at Corito, which 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.  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 percent 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 (acting).

 

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.