GRAND CAYMAN SOLAR PARK In Grand Cayman, grid-connected power is primarily produced by diesel generators and bunker fuel.

GRAND CAYMANS

Project Summary - Grand Cayman Solar Park In Grand Cayman, grid-connected power is primarily produced by diesel generators and bunker fuel. The price of electricity payable by Grand Cayman residents has exceeded an equivalent of US$0.40 per kWh. Caymanians have craved the economic and environmental benefits of utilizing abundant and free solar resources. In response to this demand, Caribbean Utilities Company, Ltd. (the Island’s utility company, which is publicly traded on the Toronto stock exchange) solicited proposals to develop up to 13 MW of renewable generation. IEP was fortunate to be awarded a mandate to develop 5 MW of solar against a 25-year power purchase agreement. IEP vision was a utility-scale solar park, which will be the first-of its-kind in Grand Cayman. A LEED-certified construction firm with 20 years of experience in the Caribzbean was also engaged to undertake the design, engineering, procurement and construction (EPC) responsibilities. Global equipment manufacturers and Grand Cayman-based contractors were engaged in the project. The Project was so impressive that multiple investors bid to finance this highly visible and environmentally important development. Ultimately, IEP sold the Project as a capital asset on favorable terms. The solar park is expected to be operational in late 2015 or early 2016.

603 Stanwix Street

Gateway Two, Suite 1825

Pittsburgh, PA 15222, USA

Phone  1.412.567.1500
Fax  1.412.567.1501
info@iepwr.com

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