The Grenadian government has obtained substantial international financing totaling $8.7 million to deploy a transformative Battery Energy Storage System (BESS), marking a significant advancement in the nation’s sustainable energy infrastructure. Through its Ministry of Finance, the Caribbean nation will receive this support comprising a $5.7 million loan alongside $3 million in grants.
This financial package, facilitated through the Caribbean Development Bank’s Special Funds Resources, features collaborative contributions from global partners including the Government of Canada, the United Kingdom, and the European Union. These funds fall under broader regional initiatives promoting sustainable energy development across the Caribbean region.
The pioneering BESS project represents a strategic infrastructure investment designed to revolutionize Grenada’s power grid. Implementation will enhance electrical reliability, facilitate greater integration of renewable energy sources, and substantially strengthen national resilience against climate-induced disruptions to energy supply.
Mike Sylvester, Permanent Secretary at the Ministry of Finance, endorsed the project approval, emphasizing its alignment with governmental priorities. “This initiative constitutes a monumental investment in Grenada’s energy future,” Sylvester stated. “It will reinforce grid stability, accelerate renewable energy expansion, and propel our national commitment toward establishing a resilient, sustainable economy.”
The Ministry of Finance is currently finalizing the requisite Loan and Grant Agreements to ensure prompt project execution. Government officials expressed gratitude to international partners for their support in modernizing climate-responsive infrastructure, advancing clean energy adoption, and fostering sustainable national development.