Minister of Energy and Business, Senator Lisa Cummins, this morning received the final documents for the Barbados Energy Local Content Development Project, which will open up the energy sector to more local businesses and help them compete on the international market.
Consultants from the Commonwealth Secretariat led by Victor Kitange, Economic Adviser/Project Lead Oceans and Natural Resources Directorate, handed over the documents, which included a Financial Technical Assistance Programme (FTAP) Strategy Document and Local Content Department Report, and a draft Barbados Energy Local Content Bill to Minister Cummins, at the ministry’s headquarters at Country Road, St. Michael.
Senator Cummins thanked the Commonwealth Secretariat, the Government of India which helped to fund the project, and the team at the ministry for bringing to completion the Barbados Energy Local Content Development Project. She pointed out that Barbados’ renewable energy targets for 2030 and its National Determined Contributions were contingent on international support.
The Energy Minister further noted that the national conversation surrounding local content was usually concentrated around solar and photovoltaic investment, electricity rates and connecting to the grid but local content provisions were equally important.
“When we talk about local content, we are talking about things that affect people. As part of our energy transition goals, there is also a component that is not talked about as much…. How do we effect change in our energy usage to renewables in a way that takes people and keeps people at the centre of that transition?
“Local content provisions are very much the key component in that; the opportunities for jobs, for new livelihoods out of businesses being created; ensuring there is a balance between foreign direct investment and local investment. Barbadians having a stake in the ownership of their own assets – sun, wind and wave energy. All of those constitute the patrimony of Barbadians, so local content provisions are important. Here in the ministry, it is a priority for us to make sure we facilitate that transition,” she underscored.
The next steps for the implementation of the new local energy regime include the adoption of the Energy Local Content Policy; the enactment of the Energy Local Content Bill; establishing a Local Content Trust Fund; executing the FTAP strategy and delivery plan; and launching a Supplier Database Management System.