From: Bahamas Information Services
NASSAU, The Bahamas — The Ministry of Energy and Transport, in collaboration with Bahamas Power and Light and Bahamas Utilities Holdings Ltd. held a Commissioning Ceremony for Dual Fuel Turbine Engines, October 15, 2024 at Sun Oil Headquarters, Clifton Pier.
Minister of Energy and Transport, the Hon. JoBeth Coleby-Davis said: “Today, we are commissioning two dual-fuel turbine engines, because of a public-private partnership between BPL and Bahamas Utilities Holdings Limited (BUC).
“The partnership is guided by a Power Purchase Agreement, commonly referred to as a PPA. PPA’s are standard practice in the energy field.
The PPA for this project includes clearly defined key performance indicators and penalties for nonperformance. Provisions have also been included to lock down rates, which will protect Bahamian households and businesses from large cost fluctuations.”
She noted, “In many countries, including the United States, PPAs have been successful in positively transforming the energy system, delivering consistent electricity supply, reducing carbon emissions, and providing cost-savings.
“The partnership with Bahamas Utilities Holdings Limited will allow for BPL to increase its generation capacity, with direct benefits for households and businesses in New Providence such as improved reliability in electricity service.
“Currently, the available electricity capacity on New Providence is 256 megawatts. At full capacity, these engines will add 62 megawatts of electricity to the grid.
“The engines allow for dual fuel technology which will enhance operational flexibility, however by June 2025, the engines will run on LNG.
“The LNG fuel will be provided by Shell North America.” 
The Minister explained that for over 60 years, Shell has been a pioneer in LNG and today has a leading integrated gas and LNG business, from producing gas, liquefying gas, trading and shipping it, then turning the LNG back into gas and distributing it to customers. Further, she said, Shell is one of the world’s leading LNG suppliers, trading 67 million tonnes of LNG in 2023, around 16 percent of the global LNG market.
Continuing: “The partnership between BPL and Bahamas Utilities Holdings Limited is representative of a strategic solution that has proven to be effective and successful in transforming the energy market.
“As a small island developing nation, we must embrace partnerships to grow and deliver meaningful benefits for the Bahamian people. And if we are to be honest, several of our nation’s most successful projects have been birthed through partnerships – Atlantis, Baha Mar, and Lynden Pindling International Airport all stand as testaments to the value of positive partnerships.
“By partnering with reputable companies – those with international experience and proven track records of success, we firmly believe that a brighter energy future for our nation will be secured.
“And let there be no doubt, that as we partner with international companies, we are also resolute on creating opportunities for Bahamian businesses.
“We are proud that all the successful partners for the renewable projects in New Providence and the Family Islands are at least 51 percent
Minister Coleby-Davis said more of the energy vision and plans will be shared in the near future, and pointed out some significant steps that have already been taken, including: “the passage of the Electricity and Natural Gas Acts, the implementation of the Equity Rate Adjustment initiative at BPL which zero rated the base rate for the first 200 kilowatts of electricity for all residential consumers, the expansion of renewable energy projects in Schools, and the selection of independent power producers to build utility scale renewable energy power in the Family Islands.”
The energy transformation is a journey towards positive and meaningful lasting results, she said, and promise of a brighter energy future, eliciting for households, lower power bills; for large businesses inventory expansion and the hiring of additional staff, and for small and medium sized businesses, improved cash flows and profits.
(BIS Photos/Anthon Thompson)
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Publish date : 2024-11-09 14:57:00
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