Senior Minister Kerrie Symmonds has sounded the alarm about a developing situation that could lead to even higher prices of imported goods.
As a result of attacks by Houthi Rebels on merchant ships in the Red Sea, several big shipping companies are now diverting their ships.
Speaking from the floor of Parliament today, Mr. Symmonds warned that this will likely drive up the costs of shipping.
Mr. Symmonds says this is compounding issues in the Panama Canal where there is a backlog of ships because of low water levels as a result of climate change.
The Minister was speaking as he led off debate on the Utilities Regulation (Amendment) Bill.
He said while initial projections were for Barbados to have 280 megawatts of renewable energy by 2030, as of this month, approved and pending applications currently stand at 989 megawatts.
However, the island only has 10 megawatts of battery storage, which is needed to ensure grid stability.
Suggesting the island’s power company failed to move with alacrity when the issue was raised two years ago, Mr. Symmonds announced Government has decided to take matters into its own hands.
He says they’ve been in talks with the Global Energy Alliance for People and Planet, which is backed by international philanthropists.
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