The Fairfield Solar Plant, developed by the company Lucayas Solar Power Ltd. and financed by IDB Invest under a 25-year power purchase agreement (PPA) framework, has begun operating as the first solar plant in the Bahamas. Fairfield, with an installed capacity of 5 MW, will foster the country’s sustainable growth, and is expected that will reduce more than 5 thousand tons of CO2eq annually.

During year 2023, IDB Invest had already provided a senior loan for up to 11.2 million dollars to Lucayas Solar Power with the objective of developing a market for clean energy sources in the Caribbean and reducing greenhouse gas emissions.

Additionally, through this agreement, IDB Invest will provide advisory services to Lucayas Solar Power in order to increase the participation and technical skills of women in the solar photovoltaic sector.