Soleco Hoping To Invest US$45m In Barbados

• A Jamaican-based company is set to invest US$45 million in the local renewable energy market. The clean energy projects planned by Soleco Energy Limited will see the construction of three 10 MW (total capacity of 30MW) solar photovoltaic plants in Barbados. 
• Upon completion this will be the largest solar plant in the English-speaking Caribbean and plans to sell electricity to the Barbados Light & Power equivalent in Jamaica (JPS), at a price of U$8.50/ kWh. 
• Angella Rainford, CEO and Founder of Soleco Energy stated: “The Paradise Park Project exemplified the potential for other emerging markets such as Barbados to achieve such cost savings while supporting sustainability and resilience in their economies through the adoption of renewables.” 
• The project will help to increase investment, and tax revenues for the country, and support growth in economic output.

(Source: Barbados Today)