MBIA Renewable Energy Project
Battery Energy Storage System and Transmission Line Project
In 2024, the Government of Grenada and the World Bank successfully concluded negotiations for USD 18.5 million in financing for the Battery Energy Storage System (BESS) and Transmission Line project to be executed by Grenlec.
This infrastructure will enable the interconnection of a 15 MW Solar Independent Power Producer (IPP) Photovoltaic (PV) farm, targeted for commissioning by mid-2027.
The Caribbean Development Bank (CDB) is expected to contribute approximately USD 8.5 million to cover 50% of the cost of the BESS.
The Public Utilities Regulatory Commission (PURC) has responsibility for procuring the IPP for the solar farm.