The Bahamas Electrical Corporation (BEC) has signed a Memorandum of Understanding with a renewable energy company. The deal aims to provide electricity by utilising ocean-power technology. It is great news for the Bahamians as they will not have to face power cut after such a wonderful reformation.
The agreement signed with the Ocean Thermal Energy Corporation (OTEC) instigates with the establishment of a commercial-grade plant by the US based company. According to the deal, BEC will purchase electricity from OTEC. The agreement will set an example by offering the facility of ocean-power technology (or base-load energy) on a large scale. Hence, BEC will be able to provide affordable, reliable, cleaner and more efficient power to the citizens.
Jeremy Feakins, the Chairman and CEO of OTEC said that the Bahamas will emerge as the world’s first island community that allows an increasing dependency on renewable energy and follows a suite to sustainable energy production. He added that the project will take between two to three years to complete.
Feakins said that the company looks for increasing popularity by this project. Hence, he is not worried about financing and aims to concentrate on designing, building and operation.
After a discussion of several months, the deal came in light when Michael Moss, the Chairman of BEC echoed his voice over the deal and selected OTEC, despite various other renewable ideas. One of the biggest advantages of ocean thermal energy is that it can be produced 24-hours a day, seven-days a week and doesn’t depend on the fossil fuels.
Situated along the shore of ocean where several islands have access to cold as well as warm water, the production of electricity by ocean power technology is quite possible because of the temperature difference.
The plant will be constructed near BEC facility so that it can pump the cold water from the depth of the ocean that will combine with significant warm water to produce sufficient steams that run turbine generators.
Image Credit: Photo Ocean Thermal Energy Corporation