CDB Board Approves Energy-saving Project in Antigua and Barbuda
The Board of Directors of the Caribbean Development Bank (CDB) has approved funding for a project which will replace approximately 14,400 high pressure sodium and mercury vapour street lamps with high-efficiency light-emitting diode (LED) lamps. Through the installation of these lamps, the Street Light Retrofitting Project aims for an annual reduction in Antigua and Barbuda' street lighting energy consumption by 4,900 MWh, and in carbon dioxide emissions of 3,200 tonnes by the end of 2019. The initiative is being supported by CDB financing of USD5.9 million and a contribution of USD905,000 from the Government of Antigua and Barbuda and the Antigua Public Utilities Authority. “CDB is committed to supporting our Borrowing Member Countries' investments in energy efficiency and renewable energy. Financing for this Project will help the Government of Antigua and Barbuda reach its goal of reducing energy consumption of public facilities by 30 percent by 2025, as outlined in its National Energy Policy," said Daniel Best, Director of Projects, CDB. In addition to reducing energy consumption and the emission of greenhouse gases, the Project aims for an annual reduction of 250,000 imperial gallons of diesel and heavy fuel oil imports by 2020. The national fuel bill in Antigua and Barbuda represents as much as 12 percent of gross domestic product, and 40 percent of the fuel supply is used to generate electricity. Antigua and Barbuda also has the highest per capita consumption of electricity of all Eastern Caribbean states. Electricity consumption by the Government of Antigua and Barbuda, including street lighting, accounts for approximately 11 percent of nationwide consumption which equated to approximately USD37 million in 2014. The Project support CDB' 2015-2018 Country Strategy for Antigua and Barbuda, which identifies reduced energy costs and cleaner energy as a key outcome.