Friday, June 14, 2024

Inauguration of Fairfield Solar Plant: A Transformative Leap In the direction of Sustainable Energy Future in The Bahamas

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Today marks the inauguration of the Fairfield Solar Plant, certainly one of two photo voltaic amenities constructed by Lucayas Solar Power Ltd. in Grand Bahama. This milestone marks the arrival of renewable vitality in The Bahamas, facilitated by an influence buy settlement (PPA) framework funded by IDB Invest.

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Expected to considerably scale back carbon emissions, the Fairfield Solar Plant is estimated to chop greater than 5,000 tons of CO2 yearly and practically 150,000 tons over the 25-year lifetime of the PPA.

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In 2023, IDB Invest prolonged a senior mortgage of as much as US$11.2 million to Lucayas Solar Power Ltd. This monetary assist is aimed toward establishing a marketplace for clear vitality sources within the Caribbean, stopping greenhouse fuel emissions whereas selling financial development by stabilizing electrical energy costs.

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In addition, IDB Invest is main efforts to advertise gender variety and technical experience within the photo voltaic photovoltaic sector. With the goal of attaining at the least 10% participation of girls in non-traditional roles, similar to mechanical and electrical work, the undertaking has already recruited 13 ladies from a workforce of 69. This initiatives embody expertise coaching, tutorial alternatives, and social challenges. guidelines about profession paths.

This groundbreaking initiative is aligned with the 4 United Nations Sustainable Development Goals: Affordable and Clean Energy (SDG 7), Decent Work and Economic Growth (SDG 8), Industry, Innovation and Infrastructure (SDG 9), and Climate Action (SDG 13) .



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