The European Commission will support HDF Energy’s hydrogen power plant project in Barbados, the first of its kind on the island.
Alongside the International Finance Corporation (IFC), IDB Invest and the Green Climate Fund (GCF), the European Investment Bank (EIB) is offering the Renewstable Barbados (RSB) project a combination of guarantees and investment grants.
Project RSB is expected to “smoothly increase” the existing renewable energy penetration on the national grid by almost 50%, providing stable and reliable electricity continuously by integrating solar power generation with on-site green hydrogen storage.
