Opportunities in renewable energy

THERE are economic opportunities in renewable energy. Energy Chamber CEO Dr Thackwray Driver expressed this opinion at a Renewable Energy Forum hosted by MPC Capital at the Hyatt Regency Hotel in Port of Spain today. Driver told his audience that given the changing energy landscape, focus needs to be paid to possibilities in the renewable energy arena.

He said there are moves to boost renewable energy alternatives in the Eastern Caribbean but a lack of expertise to pursue these efforts. Driver opined it is possible that this country could provide people to assist. He also suggested that renewable energy is something which energy services companies could explore.

Driver observed that renewable energy was an area in which many of the country's university graduates could find sustainable employment, and although the country spends considerable money on education, sometimes university graduates experience difficulty in finding jobs.

Education received a $7.4 billion allocation in this year's budget.

Driver added the chamber has its own renewable-energy initiatives and identified wind power as an area where work was advanced.

MPC Renewables Panama director Fernando Zuniga said the dynamic in the Caribbean region was 85 per cent fossil fuels and 15 per cent renewable energy, and efforts are being made to shift that balance. Jamaica and Barbados are making progress towards renewable energy, he said.

Zuniga also noted TT's efforts in renewable energy.

In his budget presentation in the House of Representatives on Monday, Finance Minister Colm Imbert said, "We have committed ourselves to increase energy supply by using renewables up to ten per cent."

Imbert said Government has embarked on two projects to allow small producers of renewable energy to feed electricity into the national grid, and this will be done through amendments to the TTEC Act and Regulated Industries Commission.

Imbert disclosed that expressions of interest have been received from developers for establishing a waste-to-energy plant at the Beetham landfill.