IDB Invest and IFC (a global development institution focused on the private sector in emerging markets, a member of the World Bank Group) are working with Hydrogène de France (HDF) and Rubis to support the development of Renewstable Barbados, a 50 MW solar generation facility with storage of lithium-ion batteries and green hydrogen. In addition, Renewstable Barbados has been chosen to host the largest sheep farm on the island, which will contribute to the energy and food security of Barbados.

Through a Collaboration Agreement, IFC will provide solar resource assessment, geotechnical and hydrological studies, and environmental life cycle assessment, strengthening the bankability of the project so that international investors can finance its construction in 2023. IDB Invest provided services advisory services to ensure that the project’s Environmental and Social Impact Assessment complied with IFC’s internationally recognized standards.

Barbados has defined ambitious targets for 100% renewable energy and carbon dioxide neutrality by 2030.