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CARICOM Approves Loan for Solar Power Project in St. Vincent

The Caribbean Community announced Tuesday the approval of a $750,000 loan for a solar-power project to help reduce electricity costs at the new Argyle International Airport in St. Vincent and the Grenadines.

 

CARICOM Development Fund CEO Lorne McDonnough said in a statement the funding will be used to purchase equipment to establish a 174.4 KW solar-energy farm.

 

“It will be the first part of a wider program of power generation to meet the needs of the AIA at peak demand and full operation and it is expected that at full generation any excess electricity will be made available through the grid to the rest of St. Vincent,” McDonnough said.

 

Argyle International is the largest infrastructure project in which the Fund is involved, having provided $8.22 million “in a mixture of loans and grants for the construction of the runway and apron and the acquisition and installation of the runway lighting.”

 

McDonnough said the Fund will work with development partners with a view to eventually making AIA “the first fully ‘green’ airport in the Eastern Caribbean.” EFE.

 

 

Source:  http://latino.foxnews.com/latino/politics/2015/03/10/caricom-approves-loan-for-solar-power-project-in-st-vincent



Category/ies:News, St Vincent and the Grenadines News.
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