Bermuda takes part in Caricom green energy conference
Bermuda joined in international talks on plans to help Caribbean countries create more sustainable energy industries.
Walter Roban, the Minister of Home Affairs, said the meeting examined the modernisation of electrical grids and the use of electric vehicles.
He added that discussions also involved “de-risking” renewable energy projects with contingency plans to reduce the number of “elements left to chance” before they went to market.
Mr Roban was one of the participants in a virtual conference designed to explore investment for energy infrastructure in Caribbean Community – Caricom – countries last week.
The meeting was used to outline projects that included a $5.4 billion proposal for the production of clean energy in the Caribbean region.
A spokeswoman for the Ministry of Home Affairs highlighted that electricity was about five times more expensive in the Caribbean region, including Bermuda, than it was in North America.
She added that many organisations were prepared to invest in renewable energy projects in the Caricom area.
The spokeswoman admitted Bermuda could not fully benefit from any investments because it was only an associate member of Caricom.
But she said: “Unlike many of our Caribbean neighbours, Bermuda has a robust regulatory regime, an independent regulator and a realistic road map to a renewable future – namely the integrated resource plan published by the Regulatory Authority in 2019.”
Mr Roban said that hurricane preparedness was also discussed at the conference.
He added: "Resilience remained a focus in this meeting as we have witnessed severe weather events in the region that can wipe out the annual GDP of an entire country.
“It is a sobering reality for anyone in the historic path of hurricanes that we must be prepared and reflecting on this we should take notice that we have already seen our first named storm, several weeks ahead of the official start of hurricane season.”
The Caricom talks involved about 150 participants from more than 17 countries and included ministers responsible for energy and the heads of international financial institutions.