Barbados has taken a major step toward sustainable energy with the signing of a Memorandum of Understanding (MoU) between the Barbados Investment & Development Corporation (BIDC) and climate tech firm Global OTEC.
The agreement, signed at the UN Ocean Conference in France, supports clean energy development in the island’s industrial estates and explores ocean thermal energy as an export commodity.
The Caribbean has long struggled with alternatives to fossil fuels. More than 90% of its electricity is generated by diesel, creating high costs and energy insecurity.
With limited land for solar and wind and frequent tropical storms, many Caribbean countries find themselves trapped in a costly and volatile energy system.
OTEC, which uses the temperature difference between warm surface water and cold deep water to generate power 24/7, offers a region-specific solution.
“Small Island Developing States need to innovate in their industrial development thinking and their approach with regards to their energy security and sovereignty,” said BIDC CEO Mark Hill. “Greening our industrial estates through innovative technology will remain a key strategic objective.”
The partnership will focus on technical assessments, stakeholder engagement and identifying suitable OTEC deployment sites. Global OTEC’s modular systems are designed to integrate into island grids and provide resilience during storms.
“This MoU builds on our longstanding engagement with the country and signals our commitment to making Barbados the launchpad for a Caribbean cluster of ocean thermal projects,” said Global OTEC CEO Dan Grech.
Global OTEC is also leading the EU-funded PLOTEC project, which will test floating, storm-resistant OTEC platforms designed specifically for the Caribbean’s challenging climate.
The technology could help slash diesel reliance by up to 50% and support Barbados’ goal of becoming carbon neutral by 2030.
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