The Tribune

By FAY SIMMONS

Tribune Business Reporter

jsimmons@tribunemedia.net

More than 20 Family Island renewable energy and LNG projects are advancing through various stages of development, with several developers have already completed site preparation and procurement work as The Bahamas moves ahead with energy sector reforms.

Speaking on the sidelines of FOCOL's LNG financing signing ceremony, Energy Minister Jobeth Coleby-Davis said the Davis administration deliberately structured its procurement strategy to maximise participation by Bahamian companies already active in the renewable energy sector.

"We have approximately 24 projects because we wanted to touch each island and ensure Bahamian companies had an opportunity to participate in the energy transformation," she said.

"Rather than awarding everything to a single company, we wanted as many qualified Bahamian firms as possible to be part of the reform process."

Mrs Coleby Davis said a number of projects are already progressing from planning into implementation.

"Several projects are already advancing," she said. "Site clearing has been completed in many locations, environmental approvals have been obtained and procurement of materials is underway."

She said residents will soon begin to see more visible construction activity as developers move into the installation phase.

The projects form part of a broader strategy that combines renewable energy generation, battery storage and liquefied natural gas as the Government seeks to reduce electricity costs and improve reliability throughout the Family Islands.

"All of the projects are expected to feature hybrid models that combine solar, battery energy storage and LNG generation," she said.

Mrs Coleby-Davis also pointed to the closing of FOCOL's $379.2m LNG financing package as an important milestone in the country's energy transition.

"I think this ceremony really showcases that this project is fully moving on the physical front," she said. "There has been a lot of planning, a lot of meetings and a lot of work behind the scenes to get to this point."

She described the LNG regasification terminal under construction at Clifton Pier as a critical component of the country's future energy infrastructure.

"The terminal is a key component of the build-out. Once the regasification terminal at Clifton is completed and LNG begins flowing into generation, it will become one of the leading fuels used to produce electricity," Mrs Coleby-Davis said.

"It is cleaner, more affordable and allows us to reduce costs while expanding the technologies available to the country."

She said introducing LNG into the generation mix will not only lower fuel costs but also create opportunities for BPL to adopt additional technologies as part of a broader modernization effort.

"We are one step closer to advancing LNG," she said. "I know Bahamians are looking forward to lower electricity bills, and that remains an important objective of these reforms."