Bahamian Energy Start-Up Teams With Solar Provider
A BAHAMIAN green energy start-up has entered into a partnership with a Florida-based solar provider.
Global Energy Solutions last week signed a Memorandum of Understanding (MOU) for a clean energy technical partnership with Orlando-based Sybac Solar, a utility scale PV (photovoltaic) projects developer. The Bahamian company was one of three first-round funding recipients from the Bahamas Striping Group's investment arm, The Investment Group. Darius Johnson, an electronic engineer and head of Global Energy Solutions, said: "We as a nation have passed our critical point when it comes to energy. We are at a point where decisions must be made concerning the use of our energy and our long-term energy security. We must wean ourselves of our dependence on fossil fuels."
He added: "Energy reform and migration to renewables is an expensive proposition, but to not act will be even more costly."
Mr Johnson said the renewable energy sector presents an opportunity to create thousands of high-paying jobs for Bahamians. He added that the partnership with Sybac will provide Global Energy Solutions with "scalable capacity, decades of industry experience, factory direct buying power and the ability to draw down on over $100 million to fund public-private initiatives to utility scale".
Daniel Proculfly, the head of Sybac Solar's US operations, said it had already secured funding for solar projects from existing investors who were "very supportive" of the potential for such developments in the Bahamas.
John Bush, political and energy officer at the US Embassy in Nassau, said the Global Energy Solutions and Sybac arrangement was a "strategic and timely partnership".
"This is a sign that the Bahamas is really ready to embrace green energy; for decades it's fallen behind the region in renewable penetration despite its potential," he said.
Mr Bush praised the Government for its attempt to improve the 'ease of doing business', and suggested that energy issues be placed under a single ministry. He suggested that renewable energy firms come together to form an alliance to speak with one voice and advocate for regulation and an enabling environment.