Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form
The Government of Barbados has set a target for 30% of national energy usage on the island to come from renewable sources by 2030 in an aim to reduce expenditure on imported oil, improve environmental sustainability and achieve greater energy security. This is providing opportunities for investors and developers in the areas of Wind energy (wind farms), solar photovoltaic, waste to energy, biomass cogeneration, biodiesel, bio-fuels and ethanol.
Barbados is a cost effective location for renewable energy development, with considerable market potential. Salary costs for an engineer are US$37,166 per annum[1] while minimum wage is US$505 per month.[2] Property and development costs are also highly competitive
------------------
[1] fDi Intelligence from the Financial Times based on Towers Watson Global Remuneration Planning Report 2014/15 and national statistics
[2] World Bank Doing Business
Barbados has an ideal environment for the development of renewable energy projects. The island gets a considerable amount of sun, even by Caribbean standards with an average of 8.3 hours of sunshine per day[3] and an average daily solar irradiation of 5.6 kilowatts per square metre. The island is also one of the windiest places in the Caribbean with an annual average wind speed of 5.5 metres per second[4] (all figures recorded in the Capital of Barbados, Bridgetown).-------------------------
[3] World Climate Guide
[4] Renewable Energy System Design Tool: Solar power calculator
[5] Climatescope2015
[6] fDi Intelligence from the Financial Times based on Population Reference Bureau World Population Data Sheet
“Cahill Energy began exploring Waste to Energy in 2011 and our attention was directed towards the Caribbean by 7th Heaven Properties. While we recognize the country faces some short term challenges due to the impact of the global economic downturn, we believe the fundamentals are strong. We are therefore confident that this investment represents a phenomenal business opportunity for our investors and offers even greater benefits to the people of Barbados.”
Clare Cowan, CEO of Cahill EnergyThank you! Your submission has been received!
Oops! Something went wrong while submitting the form
Indicators for Labour Costs
1 - World Bank Doing Business
2 - EY Worldwide Personal Tax Guide 2014/15
3 - fDi Intelligence from the Financial Times based on Towers Watson Global Remuneration Planning Report 2014/15 and national statistics
Indicators for Utility Costs
1 - Climatescope
2 - Corporacion del acueducto y Acantarillado de Santo Domingo
3 - International Telecommunication Union - ITU
Indicators for Property Costs
1 - Cushman and Wakefield
2 - Cushman and Wakefield
3 - RLB - Rider Levett Bucknall (Caribbean Report)
4 - RLB - Rider Levett Bucknall (Caribbean Report)
Indicators for Taxes
1 - The Heritage Foundation
Indicators for Natural Resources
1 - Renewable Energy System Design Tool: Solar power calculator
2 - World Climate Guide
Indicators for Track Record
1 - Yale University
Invest Barbados
Trident Insurance Financial Centre
Hastings, Christ Church,
BARBADOS, BB15156
Tel. (From Canada):
1-647-977-5996
Tel. (From the USA):
1-347-433-8942
Tel. (From the UK):
+44 (0) 203-318-9036
All investment project information has been obtained from publicly available sources.
.png){kind=icon}
