Government Plans Major Solar Plant, Opens Door for Public Investment in Renewable Energy
The government plans to acquire a large-scale solar energy plant within the next two years and intends to give Antiguans and Barbudans an opportunity to invest directly in future renewable energy projects, Prime Minister Gaston Browne announced Saturday.
Browne said the proposed project is part of the government’s long-term strategy to reduce dependence on fossil fuels by expanding renewable energy generation while broadening ownership of the country’s electricity infrastructure.
“Our intention, within the next maybe 24 months, is to commence in earnest the acquisition of a significant solar plant, maybe about 15 to 20 gigawatt hours,” Browne said during his weekly radio programme on Pointe FM.
The prime minister said the government wants the project to differ from previous energy developments by allowing ordinary citizens to become investors instead of concentrating ownership among a small number of companies.
“We want this to be a shared situation which will provide opportunity for Antiguans and Barbudans to invest in energy,” Browne said. “We want to diversify the ownership.”
He said the administration wants to create new investment opportunities for both residents and nationals living overseas while ensuring the benefits of the country’s energy transition are shared more broadly.
“One of the things that we’re trying to do is to provide more opportunities for domestic ownership,” Browne said. “We want Antiguans abroad, a cadre of Antiguans and Barbudans, to have different investment instruments in which to invest. I truly believe that energy is one such area that we have to open up.”
Browne said future electricity generation should not remain under the control of only a few entities, arguing that wider ownership would strengthen the country’s energy sector and create more opportunities for wealth creation.
“This type of close-knit arrangement, when you have one or two entities controlling our power, first of all, I think is dangerous,” he said. “We want to broaden it, share the pie and provide opportunities to others.”
The prime minister said existing energy companies would not be excluded from participating in future renewable projects.
“This doesn’t preclude APC from participating,” Browne said. “They could end up, based on their resources, becoming the single largest investor.”
He emphasized that the policy is intended to expand economic participation rather than target any current operators.
“I say this with no hostility towards Eagle or towards the Hadid group of companies,” Browne said. “The members of the Hadid family and I get on pretty well. We haven’t had any issues, but I speak truth to power, and ultimately my responsibility is to the people of Antigua and Barbuda. No friendship, no interests supersede the interests of the people.”
Browne said the planned solar facility will complement the government’s move toward liquefied natural gas, which he described as a transition fuel that will reduce electricity costs and lower carbon emissions while Antigua and Barbuda expands its renewable energy capacity.
“We’ll have two benefits — a reduction in price compared to using diesel or heavy fuel, and similarly there’s going to be a reduction in our carbon footprint,” Browne said of the broader energy transition.
This article was originally published by Antigua News Room. Read the original article here: VIDEO: Antigua and Barbuda to Acquire Major Solar Energy Plant Within 24 Months, PM Says.