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Previously, the International Finance Corporation and the International Development Bank Investment Corporation, a member of the World Bank Group, revealed that they have partnered with Hydrogène de France (HDF) and Rubis to support the development of
Barbados' first green hydrogen power plant.
The project, announced in February this year, hopes to help Barbados achieve its goal of
100% renewable energy by 2030.
The project plans to combine a 50-megawatt solar power facility with energy storage to power the Barbados grid, powering up to 16,000 homes
.
IFC said it has signed a cooperation agreement with Barbados to fund
it in 2023.
The International Development Bank Investment Corporation has already provided funding
for part of the project's environmental and social impact assessment.
Martin Spicer, IFC's director for Mexico, Colombia, Central America and the Caribbean, said: "Green hydrogen is becoming an unparalleled decarbonization technology
.
This is IFC's first project of its kind globally, and we are delighted to partner with HDF and Rubis to see Barbados' solution replicable
in small island states in the Caribbean and beyond.
" ”
Thibaut Menage, Vice President, Caribbean at HDF, said: "We are very pleased with the participation of IFC and the International Development Bank Investment Corporation and look forward to expanding this partnership beyond Barbados
.
”
