Ocean Thermal Energy Corporation (OTEC) and Bahamas Electricity Corporation (BEC) announced the signing of a Memorandum of Understanding (MoU) for developing two ocean thermal energy conversion plants in The Bahamas.
In a release, Jeremy P. Feakins, Chairman of the Board and Chief Executive Officer at OTE Corporation said, “OTEC is a market-driven clean technology energy solution that will have a positive impact for millions of people in the years to come.”
“While these first two OTEC plants are an important step in the right direction, in the near future we look forward to building additional OTEC plants with even higher capacity offering clean power generation, potable water production and sustainable food production,” Feakins added.
This initiative follows BEC’s endeavor to promote renewable energy resources in The Bahamas in order to further improve Bahamian energy independence which will also result in several environmental benefits.
OTE Corp. will also be able to globalize its renewable energy resource that is ocean thermal energy conversion (OTEC), while BEC will be able to explore ways and means to integrate renewable energy systems in businesses and homes. The final benefit is that The Bahamas can reduce dependency on fossil fuel, explained officials.
OTE Corporation strives to offer OTEC technology to all the tropical regions around the world where land-based commercial OTEC power plants can be deployed. The MoU ensures that OTE Corporation can collaborate with BEC to complete the design process which will be followed by the company building, owning and operating two commercially viable OTEC plants.
These plants will produce fossil-fuel free electricity, potable water and sustainable food in the form of aquaculture, mariculture and chilled soil agriculture.
OTEC will enable nations to move toward energy independence; reduce carbon footprints; provide potable water; create jobs and improve international security as it will reduce global demand for oil. Officials added that the Bahamian plants will be the world’s first OTEC facilities to utilize ocean water for clean energy, fresh drinking water and sustainable food production. Shamila Janakiraman is a contributing editor for TMCnet. To read more of Shamila’s articles, please visit her columnist page.
Edited by Rich Steeves