WILLEMSTAD - Aqualectra, Curaçao's utility company, is set to launch a battery storage park next year as part of its strategy to stabilize the electricity supply and enhance production capacity. This initiative is a key component of a broader investment plan, which also includes the construction of a new power plant and the expansion of the wind farm at Koraal Tabak.
New Power Plant and Renewable Energy Efforts
Aqualectra has signed a contract with Wärtsilä to build a new power plant, slated for completion by the end of 2025. Alongside this development, the company is actively working to reduce electricity tariffs by incorporating more renewable energy sources and switching to cheaper fuel options.
According to Charles Cooper, Curaçao’s Minister of Economic Development, Aqualectra has already made significant progress. In 2024, electricity tariffs decreased by 10 cents due to the introduction of green energy and the transition to a more cost-effective fuel type.
Meeting Growing Energy Demands
Minister Cooper noted that Curaçao’s growing economy is driving an increased demand for electricity. The country’s economic growth remained robust in 2024, with GDP rising by 5.4%. Key contributors to this growth were the hospitality and construction sectors, fueled by a surge in tourism and investments in renewable energy projects.
Looking ahead to 2025, Curaçao’s real GDP is expected to grow by 3.2%, supported by both domestic and international demand. The new power plant, battery storage park, and expanded wind farm are anticipated to play crucial roles in meeting this increased energy demand while promoting sustainability.
With these strategic investments, Aqualectra aims to position Curaçao as a leader in renewable energy within the region, ensuring a reliable and affordable power supply for its growing population and industries.