Fossil Fuel Imports To See 20% Dip

BVI Platinum News
November 08, 2018 3:55 pm AST
Photo Credit: AES
A decrease of 20 per cent in fossil fuel imports has been projected for the next several years, with the advent of the BVI Electricity Corporation (Renewable Energy) Regulation, even as the company is looking to get into alternative energy production.

The Regulation, which makes provisions for the installation, use and sale of renewable energy, was effected a week ago and Minister of Communication and Works, Hon. Mark Vanterpool—who has purview of the energy—says that this law is in keeping with the objective of properly addressing the energy needs of the territory as well as care for the environment.

Residents are being urged to familiarize themselves with the new regulations.

“Even as we continue to import oil and gasoline for our energy and transportation needs, efforts intensify to reduce our vulnerability to this risk. With the modernizing of legislation and a public education campaign, government will also continue initiatives to ensure that by 2021, fossil fuel imports will decrease by 20 percent, 50 percent of consumers will be using energy conservation measures and by 2023, 30 [percent] of the territory’s energy will be supplied by renewable means,” the Minister stated.

The importance of such a move to the environment was reiterated by General Manager of the BVIEC, Leroy Abraham, who said, “This is not only the beginning of securing a more sustainable and resilient energy future for the territory, but will also demonstrate that the BVI is doing its part to combat climate change.”

Earlier this year, the Electricity Corporation had discussion with Caribbean Alternative Energy, a company with interest in establishing a renewable energy facility here in the Territory.

The BVIEC had even revealed that they were ready to enter into an alternative energy production agreement.

The General Manager had previously said, “We are…in discussions with some private developers for the installation of what we term as utility scale projects, which are large scale for us…solar...renewable projects which would be integrated…so we are looking at a blended mix of energy products with renewables being a portion of it.”
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