Head of WMS Holdings Limited Wilfred Smith contends that The Bahamas can reach 30 percent renewable energy penetration by 2030, if it begins to introduce some of the resources and technology introduced at the first annual Best Energy Bahamas Energy Conference on Friday.
Smith explained during his presentation at the conference that the companies brought to the conference all have “patented, proprietary, disruptive, proven technologies”.
He added that a change in the dirty type of fuel used by Bahamas Power and Light (BPL) to create energy, to a clean natural gas that his company has been trying to push for years, could say the country hundreds of millions of dollars per year and create thousands of jobs.
“Oxford Economics is one of the largest, most reputable, well-recognized economic consulting, engineering financial institutions in the world that prepared this report, and they said over a 25-year period, if we were to switch from the fuel we’re using now, to what we’re proposing here today, it would create actual indirect and direct jobs for Bahamians – between 12,400 to 15,500,” said Smith.
While Smith did not get to mention the fuel in his opening remarks due to time, WMS has been pushing for years to have the government and BPL look at their natural gas solution and funding model that would create clean energy and wipe out the power company’s debt.
WMS released a series of full-page ads in 2021 to try to engage the government and whoever else would listen. The company also sent its proposal to the Bahamas Investment Authority, which they said never replied.
Guardian Business was able to view the WMS proposal back in 2021.
“Nearly a year and seven months later, WMS has not received a single response from the BIA,” WMS said.
“The application and investment proposal to the BIA and the government of The Bahamas seeks approval for its foreign direct investment partner to invest upwards of US $3.2 billion to support proposed nationwide initiatives and developments for BPL and other project opportunities in The Bahamas.
“WMS has been developing and working on this very substantive project for more than five years.
“The offer boasts 100 percent funding along with any additional funding required under terms and conditions to be agreed. The offer also includes the proliferation of a modern, total energy solution through the world’s most advanced fuel and energy-saving solutions for The Bahamas.
“WMS represents American and European multinational corporations who finance and supply the delivery of energy-efficient technology and natural gas liquids (NGLs and CGLs) for utility plants, private businesses, government facilities, hotels, transportation, homes, and more.”
Smith said the technology introduced at the conference will be able to exceed the country’s renewable energy goals for 2030.
“We have the ability with the companies, the firms, the multinational firms we represent to deliver on this before Barbados beats us again in 2023,” said Smith.