Despite the low cost of fuel that has driven electricity prices down since 2014, Grenlec remains committed to promoting the growth of renewable energy for these reasons:
- To stabilise electricity prices.
- To diversify Grenada’s energy mix and reduce dependence on fossil fuel imports that are unpredictable in price and over which we have no control.
- To reduce greenhouse gas emissions and Grenada’s carbon footprint.
We reference this article published on 1 June 2016: Angela Merkel strikes deal with German states to put brakes on green energy
Clive Hosten, Grenlec Chief Engineer says, “the German experience which has resulted in higher energy prices reminds us that our nation’s challenge is to expand renewable energy use without adversely affecting vulnerable members of society, who are not able to invest in renewable energy”.
Highlighting that there are also many positive examples of RE development, Mr Hosten says, “a carefully considered, collaborative approach can support individual customer participation as well as utility-scale projects that provide high quality, reliable and stable prices that benefit all customers”.
To date, Grenlec’s Renewable Energy Customer Interconnection Programme has generated significant interest with an installed capacity of 1 MW from more than 100 domestic and business customers. An ongoing $6.4 million renewable energy project at Grenlec’s facilities in Grand Anse, Queen’s Park and Plains will contribute an additional 937 kW to the Company’s growing RE portfolio.