ONE OF BARBADOS’ leading home-grown investors says he is so frustrated with Government’s handling of the renewable energy sector that it is now only love of country that keeps him involved.
Businessman Ralph “Bizzy” Williams shared his frustrations yesterday while addressing a European Union/Caribbean Sustainable Energy Conference at Lloyd Erskine Sandiford Centre.
He detailed what he regarded as weaknesses in a system that is “saddled by a regime of licensing and permissions”, fixed rates that are lower than production costs, a requirement that all energy generated must be sold to the Barbados Light & Power (BL&P) at a lower rate than that at which it must be repurchased, and a regime in which financial institutions are less interested in lending for renewable energy projects.
“If anyone in this room detects that I – by far the biggest single private sector investor in renewable energy in Barbados outside of the utility – am frustrated, you are correct,” Williams said. (RRM)
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