The Future of Sustainable Energy in Barbados: BIDC Partners with Global OTEC
The Barbados Investment & Development Corporation (BIDC) has signed a memorandum of understanding (MoU) with UK-based Global OTEC to collaborate on the deployment of ocean thermal energy conversion (OTEC) systems in Barbados.
The agreement involves cooperation through BIDC’s Bloom Clean Technology and Climate Tech Center of Excellence. According to Global OTEC, the partnership aims to support the island’s efforts for sustainable energy, targeting industrial estates and positioning energy as a potential export commodity.
“Small Island Developing States need to innovate in their industrial development thinking and their approach with regards to their energy security and sovereignty, manufacturing and processing, technical capacity development, scientific knowledge acquisition and technology transfer for future focused careers and sustainable economic growth,” said BIDC CEO, Mark Hill.
“The volatility of global energy markets due to geo-political conflict and logistical challenges leave the economies of SIDS vulnerable, equally when we consider climate change, it’s clear that the business as usual will no longer be adequate for industrial and sustainable development in the global South, especially in the context of the blue economy. Greening our industrial estates through innovative technology will remain a key strategic objective at the Corporation, especially if the technology under consideration can positively impact of manufacturing and commodity export portfolio.”
Driving Sustainable Development with OTEC Technology
The MoU includes technical assessments, stakeholder engagement, and site evaluation for the possible implementation of OTEC systems. The technology leverages the thermal gradient between warm surface water and deep cold water to provide continuous baseload electricity, making it a potential replacement for diesel generators serving over 282,000 residents in Barbados.
Barbados has committed to becoming carbon-neutral by 2030 and reducing dependence on imported fossil fuels. OTEC is being considered as a technology that could contribute to meeting these objectives while also offering applications across the wider Caribbean region.
Global OTEC’s Innovation and Commitment
Global OTEC’s modular systems are designed to connect with island grids and offer redundancy following extreme weather events. The company is also leading the EU-funded PLOTEC project, which is developing a storm-resilient floating platform for use in high-risk regions like the Caribbean.
“Barbados continues to lead by example in the global blue economy. This MoU builds on our longstanding engagement with the country and signals our commitment to making Barbados the launchpad for a Caribbean cluster of ocean thermal projects. We can unlock clean, reliable power from the ocean, and Barbados is showing the region how it can be a lighthouse for the region,” said Global OTEC CEO Dan Grech.
Empowering Island States with Sustainable Solutions
OTEC is viewed as a fitting energy solution for island states facing constraints such as limited land, high diesel costs, and grid vulnerabilities. Caribbean electricity prices often exceed USD 0.25 per kWh, with some countries reaching over USD 0.40. Over 90% of power is currently derived from fossil fuels.
Global OTEC said its technology could reduce diesel-related energy costs by up to 50%, while supporting Barbados’ green hydrogen ambitions.
In March, the UK company unveiled advancing ocean thermal energy with its first onshore pilot of the OTEC Power Module, a compact system designed to generate continuous, clean electricity from ocean temperature gradients.