BNOC pushing energy transition
Article taken from the Midweek Nation – May 17th, 2023
IN KEEPING WITH this country’s goal of being 100 per cent carbon neutral by 2030, the Barbados National Oil Company Limited (BNOCL) says its internal transition to renewable energy is at an advanced stage.
Commercial manager Wesley Carter said the state-owned entity has made significant investment in renewable energy infrastructure.
He was speaking to the media yesterday at the opening ceremony of an entrepreneurial training session, which was held in conjunction with the BNOCL, Tradewind Tankers and the Miami School of Business.
Carter explained that apart from the in-house renewable energy initiatives, the company has several major joint prospects with commercial enterprises that are nearing the start date. He also revealed that a number of old oil and natural gas wells are being assessed for geothermal energy potential.
“We have a big project here that is approaching 4.5 megawatt energy production. We have another facility at our sister company, BNTCL (Barbados National Terminal Co Ltd) is going to develop in the near future. If you look at our roofs you would see that every square inch is covered with solar panels.
“We are also looking at our fields and some of those wells we are going to be repurposing to look at geothermal energy. We are also involved in a big 10-megawatt project, which is a partnership with a labour entity and a large commercial enterprise and we are really close to execution,” Carter said.
The BNOCL official also pointed out that based on the level of interest from the wider public in renewable energy investment, the country is well on course to achieving its 2030 target. He said the company is mulling over several proposals to build out the sector, including initiatives which will merge agriculture and the harvesting of solar energy.
“What I am seeing happening, even from our end, we are getting proposals, we are getting potential customers who are engaging and who want to build out the renewable energy space. You have people who have products that are ground-mount systems, roof-mount systems and the agro-solar, which is a use of solar technology and the planting of various vine crops underneath,” Carter explained.
“So there is quite a bit of interest almost on a daily basis. I feel really comfortable that people are beginning to understand there are a vast number of natural energy resources out there. We see businesses and homes converting their rooftops and any space they have into photovoltaic, and it tells me we are going to make a significant dent towards that future goal.”