The Tribune

By FAY SIMMONS

Tribune Business Reporter

jsimmons@tribunemedia.net

BISX-listed FOCOL Holdings will begin supplying Grand Bahama Power Company (GBPC) with five mega watts (MW) of soalr power within the next 30 days, it was revealed last night.

Dexter Adderley, FOCOL Holdings president and chief executive, speaking at a University of the Bahamas (UoB) legal week seminar said the group’s subsidiary, Bahamas Solar Renewables (BSR), is achieving a “meaningful milestone” by integrating renewable energy into Grand Bahama’s power mix. 

“Today, we are very proud to highlight one of our most meaningful renewable milestones. FOCOL, through BSR, Bahamas Solar Renewables, has partnered with Grand Bahama Power Company to provide 5 MW of solar energy within the first quarter of this year; in fact, over the next 30 days,” said Mr Adderley.

“As a company with our origins in Grand Bahama, we are exceptionally grateful to the Grand Bahama Power Company for partnering with us on their strategic project. This partnership represents the first utility-scale solar integration of its kind within our portfolio, and demonstrates how renewable energy can be aligned with existing grid infrastructure. It also reinforces the power of local partnerships - Bahamian companies working together to advance a cleaner, more resilient energy future.”

The solar energy power purchase agreement (PPA) was signed in 2023 and marked a step forward in expanding cleaner, cheaper energy sources on Grand Bahama. The 25-year PPA, once implemented, is expected to help increase renewable energy to 10 percent of GB Power’s overall generation mix.

Nikita Mullings, GB Power’s chief operating officer, last year said the agreement was part of the utility’s broader strategy to stabilise electricity costs for its 19,000 customers while supporting national energy goals. 

Under the arrangement, GB Power will purchase solar electricity at an average rate of nine cents per kilowatt hour (KWh), contributing to The Bahamas’ national target of generating 30 percent of its energy from renewable sources by 2030.

Mr Adderley yesterday said the renewable, clean energy transition is not just about installing technology but building a strong legal and regulatory foundation that anticipates risk, protects national sovereignty, safeguards the environment and gives investors and the public confidence. 

He stressed that energy projects are long-term commitments, and strong legal frameworks help prevent long-term costs to citizens, ensuring that innovation ultimately serves the public interest rather than short-term goals.

“That transition did not begin with equipment. It began with approvals, roles and responsibilities that are defined in law. Innovation succeeds only when regulation anticipates risk, protects sovereignty, ensures environmental stewardship and creates bankable certainty for investors and the public,” said Mr Adderley.

“Energy projects do not last five years. They last 30,40, 50 years. These are long term projects. The agreements that govern them will be interpreted by the courts long after today's policymakers and executives are gone.

“This is why lawyers are not peripheral to energy reform. They are the risk architects when regulations lack innovation, nations face infrastructure decay, financial exposure, environmental liability, weakened sovereignty and long-term cost burdens on citizens. Law ensures that innovation serves the public interest, not just present ambition.”