OTEC presented as option for Barbados’ renewable energy transition

Release – Ocean Thermal Energy Conversion (OTEC) is gaining more traction in the Caribbean region. Following meetings held last year with the Turks and Caicos Islands and Grenada governments, Barbados is now starting to explore OTEC for its renewable energy transition. In a roundtable at the Export Barbados (BIDC) headquarters last week, Global OTEC presented its technology and current projects, highlighting the potential for baseload clean energy from the ocean to power the country, reducing carbon emissions and generation costs, alongside the co-benefits such as desalination, aquaculture, and green fuel production.

In addition to the 1.5MW floating OTEC platform Dominique, which will be installed in São Tomé and Príncipe, Africa, the company highlighted the developments under PLOTEC. This EU-funded project is creating a storm-resistant OTEC structure. The prototype is under construction and will soon be deployed in the Atlantic Ocean for testing. The project will improve OTEC’s accessibility in weather-prone areas like the Caribbean.

During the meeting, OTEC’s ability to deliver 24/7 baseload power, with an impressive capacity factor, was emphasised. MetOcean analysis for Barbados was presented, attesting to OTEC’s suitability for the country and the wider region. “Ahead of our installation of a tropical storm-resistant OTEC structure, we are preparing a pipeline of bankable OTEC projects in the Caribbean region”, explains Global OTEC Founder and CEO Dan Grech.

The Barbados National Energy Policy (BNEP) states that 100% of the island’s transformational goals for renewable energy and carbon-neutral island-states will be achieved by 2030. An OTEC project can complement the country’s broader decarbonisation efforts through ocean and terrestrial technologies, aiding in reaching the target in the next six years.  “Export Barbados (BIDC) continues to pioneer the development of Barbados’ Oceans Economy through strategic partnerships. As a Large Ocean State, Barbados must sustainably harness its Blue Economy’s resources to ensure national Energy Security by developing and implementing suitable Ocean Energy Technology. Such innovative ocean energy technologies are key to achieving SDG 7 and aligning with the Paris Agreement as the island transitions away from fossil fuel dependency in light of the impacts of climate change. As the Inez Oceans Unit continues to explore collaboration with Global OTEC and the SIDS DOCK Initiative, Export Barbados (BIDC) also wishes to thank the representatives from the Caribbean Development Bank and Invest Barbados for their valued contributions”, says the Consultant Project Coordinator at INEZ Oceans Unit of Barbados Government, Damien Prescod.

OTEC: a great fit for the Caribbean

The Caribbean is facing an energy crisis, commonly called a “fuel trap”. To escape this trap, the region needs renewable energy technologies, considering its unique characteristics, such as limited land space and vulnerability to tropical storms. In addition, there is an urgent need to reduce electricity prices, which are currently around USD 0.25 per kWh on average, more than double the average price in the United States. In some Caribbean countries, the prices can increase to over USD 0.40 per kWh.

These countries rely heavily on fossil fuels, with more than 90% of their electricity supply coming from this source. The consequent high and fluctuating costs affect competitiveness and productivity and perpetuate poverty. OTEC can help the Caribbean overcome its energy challenges, harnessing the power of the ocean, the islands’ primary natural resource, to deliver clean and reliable power while reducing diesel costs by up to 50%.