The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

THE cost of energy to domestic consumers and investors is “the most significant challenge” facing the Bahamas, Prime Minister Perry Christie acknowledged recently, stating that the government was sorting through several renewable energy proposals by major investors in the country.

Speaking at the 2014 Engineers Conference at the Melia Nassau Beach Resort, Mr Christie said that a deep water cooling system for the Baha Mar resort was one such innovation that was before the government for approval.

“The most significant challenge facing the Commonwealth of the Bahamas is the cost of energy to the domestic consumer who is challenged by the cost and to the investor who has this very high energy cost,” Mr Christie said. “The government of the Bahamas, like any other government, is faced with people looking for an alternative. We have companies who have come to us saying let us agree that we can use a deep water cooling system and we will connect our air-conditioning. This group here at Baha Mar have determined that they can use a formula used in Bora Bora in the Pacific where you bring cold water from depths and you use that cold water to facilitate your air-conditioning.

“There is an innovation that we have approved and we’re negotiating the final stages of it where this group will want to bring it from the ocean into Baha Mar.”

Mr Christie said that other hotels and investors were looking at renewable energy solutions. “There is another hotel that says we own wind farms around the world and we would like to put up a facility. There is another major investor who said we would like to engage in solar farms,” he said.

Referring to the Bahamas Electricity Corporation and its $450 legacy debt Mr Christie said: “As we go through these requests the deputy prime minister is heading a group with a timeline for the end of the year to try and complete a process we have been engaged in of determining whether or not there is a model that we can adopt that will allow the private sector to more effectively manage what we have but at the same time have the capacity build a new plant.”