WILLEMSTAD – Aqualectra invested more than ANG 177 million in capital expenditures in 2024, marking the highest investment level in the company’s recent history. The funding was directed primarily at strengthening electricity and water infrastructure while accelerating Curaçao’s energy transition.
Key projects included the commissioning of a new wind farm at Koraal Tabak, increasing the share of renewable energy in the power mix, and the conversion of diesel generators to more cost-efficient marine fuel oil. The utility also signed agreements for the construction of a new 40-megawatt power plant and a battery energy storage system to improve grid stability.
On the water side, Aqualectra expanded maintenance programs and signed a new Water Purchase Agreement with Seven Seas Water Group, aimed at enhancing long-term reliability of water production. Investments in transmission lines, substations, metering and distribution networks were also stepped up to reduce outages and non-revenue losses.
The company stated that these investments were made possible through continued support from its banking consortium, while emphasizing that long-term infrastructure upgrades are essential to maintain affordable tariffs for consumers.