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Wind Power in the Caribbean |
Site: St. Kitts
Sector: Renewables
Challenge: Almost one quarter of the nation’s population lives below the national poverty line; spends an estimated 15 percent of its GDP on imported fuel while using diesel generators to produce electricity.
Solution: OPIC’s $16 million loan to North Star St. Kitts Ltd., majority-owned by the U.S. shareholder Fairways Equities LLC of Texas, will support the construction of a 5.4 MW wind power plant which will provide a clean and reliable source of power
Impact: The St. Kitts wind plant will be the first independent power producer on the island and will reduce pollution associated with diesel power generation. It will also provide as much as 30 percent of the country’s energy demand.
This project was profiled in 2012.
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