Skip to main content

Company name

Renewstable (Barbados) Inc.

Project number

13795-01

Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.

E&S category
tooltip

B

Country

Barbados

Sector

Energy

Status

Proposed

Disclosed date

01/08/2024

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
tooltip

11/05/2024

Approval date

N/A

Signed date

N/A

Sponsoring entity

Hydrogene de France (‘HDF Energy’) and Rubis Caribbean Holdings Inc.

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

N/A

Financing amount

USD $ 40,000,000

Currency

USD

Project scope and objective

Renewstable (Barbados) Inc. (“RSB”), a special purpose vehicle (SPV), will develop a power production facility at Harrow Plantation in St. Philip, Barbados which will provide firm capacity of 13 MW from 8am to 5pm and 8pm to 10 pm and 3MW for the remainder of the night. The electricity delivered will come from a 50 MWp Solar photovoltaic plant combined with an energy storage system using hydrogen technologies for long term storage and a li-ion battery system for short-term storage. The system will generate electricity from the photovoltaic solar park and feed into the national grid and in parallel convert water to hydrogen using an electrolyzer, store the hydrogen in the form of compressed gas and then produce firm power from the hydrogen using a fuel cell. This project is expected to fully contract its capacity through a 25-year Power Purchase Agreement (“PPA”) with the national grid operator- Barbados Light and Power Company (“BLPC”). In addition, the project will house a blackbelly sheep farm (the “Project”). Subject to due diligence, IDB Invest will provide a loan of up to US$35 million as a part of the syndicated debt for RSB. The project cost is approximately US$165 million, and the requested debt financing amount from RSB is up to US$132 million. The funds raised will be used to finance, build, and commission the Project.

 

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region .

Early disclosure

RENEWSTABLE BARBADOS POWER PLANT PROJECT

122.9 Kb

Client files

This section provides the key environmental and social assessment documents produced by the client for this project.

RENEWSTABLE POWER PLANT - ENVIRONMENTAL AND SOCIAL IMPACT ASSESSMENT (ESIA)

49.4 Mb

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region .

Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information :

Client Contact

EMAIL

meshia.clarke@hdf-energy.com

PHONE NUMBER

+1 246 838-2342

POST OFFICE ADDRESS

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region .