CDB approves USD6.2 mn for electricity systems upgrade in Anguilla
24 Jul 2017
The Board of Directors of the Caribbean Development Bank (CDB) has approved a loan of USD6.2 million to the Anguilla Electricity Company Limited (ANGLEC) to meet the growing electricity demand in Anguilla. The Seventh Power Project aims to improve the capacity and reliability of ANGLEC’s power-generating system.
Between 2001 and 2011, Anguilla experienced a 12.8 percent increase in population, with an associated 1,148 increase in the number of households. This, coupled with the continuous growth in demand for electricity and the retirement of several ageing diesel sets at the Corito Power Station over the next three years, has resulted in the need for additional generating capacity to meet anticipated peak demand.
L. O’Reilly Lewis, Division Chief, Economic Infrastructure Division, CDB notes, “This Project will allow ANGLEC to provide a reliable and quality supply of electricity for its customers. This additional capacity is especially critical in light of Anguilla’s dependence on the tourism sector, the sustainability and growth of which is closely linked to electricity supply.”
The Project will comprise the extension of the existing building at the Corito Power Station to accommodate two additional engines, and the installation of 5.1 MW diesel and/or propane generating plant.
In addition to financing from CDB, the initiative will be supported by a contribution of USD2.8 million from ANGLEC.
The Project aligns with Bank’s Strategic Plan 2015-2019 and Energy Sector Policy and Strategy, in which it highlights promoting infrastructure to provide an affordable, clean, sustainable and reliable energy supply. The initiative also supports the Government of Anguilla’s progress on achieving Sustainable Development Goal 7, which is to ensure access to affordable, reliable, sustainable and modern energy for all.
The post CDB approves USD6.2 mn for electricity systems upgrade in Anguilla appeared first on Caribbean Development Bank.
Read full article at Caribank