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Invest in energy

 

The Minister of Finance is encouraging investment in the renewable energy sector in Barbados.

Speaking last night at the official opening of the Barbados Branch of the Pan American International Insurance located in Fontabelle, Christopher Sinckler indicated to Barbados’ newest insurance agent that renewable energy is still largely untapped in this country and therefore a good investment.

 

“Barbados currently spends close to four hundred million US dollars importing fuel oil, and therefore the transition in the energy sector to increasing use of renewable energy sources in Barbados is creating new prospects for investment in real assets,” the Finance Minister said.

 

He pointed out that although some headway has been made in that sector in terms of the use of photovoltaic and other renewable energy sources, the sector is largely still new territory, leaving room for large investment from an entity such as the insurance company.

 

“For you in the insurance industry, given the cost connected to renewable energy, this would represent an excellent opportunity for investment, and I would like to take this opportunity to recommend it to you,” Sinckler stated.

 

The Minister’s comments were directed at high level Pan American International Insurance officers present at the opening, including Keith King, General Manager of the Barbados Branch of Pan American International Insurance; Bruce Parker, President and CEO of Pan American International Insurance; and Miguel Sierra, Managing Director and CEO of the Pan American International Insurance, Caribbean.

 

Source: Barbados Advocate



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