Bahamas News
The Government Signs Power Purchase Agreements to Help Transform Power Generation Across the Family Islands
By Llonella Gilbert
Bahamas Information Services
NASSAU, The Bahamas — During a press conference at the Office of The Prime Minister on Sunday, June 1, 2025, Prime Minister and Minister of Finance the Hon. Philip Davis announced the signing of Power Purchase Agreements (PPAs) with two Bahamian partners who will help to transform power generation across the Family Islands.
The Prime Minister said, “We have made incredible progress in such a short amount of time. When we took office in 2021, we encountered a power grid and power generation system on life support.”
He explained that Bahamas Power and Light (BPL) was drowning in over half a billion dollars of debt, plus another $100 million in
unfunded pension obligations. The Prime Minister noted that at the same time, the country’s energy infrastructure required $500 million in critical upgrades to prevent catastrophic failure. He said, “In New Providence, 60 percent of power generation equipment needed replacement, while our Family Islands were in even worse shape, with 80 percent of equipment requiring replacement within five years.
“For Bahamian families, our energy failures caused unnecessary hardship for a population that was still staggering from the effects of Hurricane Dorian, COVID-19, a deflated economy, and crippling inflation.”
The Prime Minister said the Government is committed to taking on these challenges head-on, with energy reform near the top of its list of priorities as one of the most meaningful ways to lower costs for families and local businesses.
“Ultimately, we see energy reform as a catalyst for economic empowerment and growth for all Bahamians.”
He added, “Our vision extended to every island, not just New Providence, not just the major economic and population centres, but to every island where Bahamians live, work, and raise their families.”
The Prime Minister noted that it is an ambitious undertaking requiring the Government to take on multiple Bahamian partners to deliver on its promise of widespread change.
“The PPAs we are signing today represent our unwavering commitment to keeping that promise.
“These partnerships will bring modern, reliable, affordable electricity to islands that have, for too long, endured aging infrastructure, frequent outages, and exorbitant costs.”
He explained that through these agreements, the Government will establish solar microgrids combined with advanced LNG and multigas systems across nine different areas in the Family Islands.
“This hybrid approach represents the perfect balance for our archipelago. We are harnessing our abundant sunshine while introducing cleaner fuels to ensure that our power needs are met, regardless of what the weather looks like.”
The Prime Minister said, “All of our partners are Bahamian-owned enterprises with the resources to expedite development to ensure that our people will benefit from these changes as soon as possible.
“In fact, each one of the PPAs we have signed this year will be initiated before year’s end and will be completed in 2026.”
He said among the companies the Government is partnering with is Family Island Microgrid Co., which will develop and operate new energy systems on five islands: Harbour Island, Bimini, Moore’s Island, Farmer’s Cay, Black Point and Staniel Cay in the Exumas. These communities will soon benefit from efficient multi-gas generation.
The Prime Minister said the second partnership is with RenugenPro Co. Ltd. RenugenPro who will bring an energy revolution to San Salvador, Long Island, and Cat Island, with solar, battery energy storage and LNG facilities.
“These islands, each with their own unique energy challenges, will soon enjoy reliable, affordable electricity that should be the right of every Bahamian citizen. The impact of these changes will be felt within months, not years.”
He explained that as large-scale solar and hybrid facilities spring up, Bahamians will benefit immediately from these comprehensive energy
reforms. The Prime Minister said by this time next year, Bahamians across 14 islands will experience the benefits of modern, reliable, affordable electricity. He added that by 2030, 32 per cent of the nation’s electricity needs will be met by solar power – surpassing the global target of 30 per cent.
“Finally, after years of falling behind in the adoption of renewable energy, we will lead the way using the power of the sun in this new energy era:
“No more sky-high electricity bills at the end of each month.
“No more sweating in the dark at night because of power failures and load shedding.”
The Prime Minister said, “No more appliances shorting out and food going bad because the power went off for far too long. That is the energy future we are striving for.”
(OPM Photos/Bradisha Fraser)
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Scotiabank Bahamas Hosts Exclusive Mortgage Seminar & Cocktail Event, Honours Top Referral Partners
Nassau, Bahamas – Scotiabank Bahamas recently brought together a distinguished network of real estate professionals, attorneys and
industry partners for an exclusive Mortgage Seminar & Cocktail Event designed to share insights, deepen collaboration and celebrate the achievements of top performers in the Bank’s Mortgage Referral Programme.
The Mortgage event featured expert-led discussions that explored key elements of the homeownership journey, including Scotiabank’s industry-leading mortgage offerings, innovative financing solutions, and its commitment to service excellence. Note worthy were the contributions real estate professionals, attorneys and industry partners make to the bank’s referral program.
The program has not only helped thousands realize their homeownership goals, with up to 95% financing available, but has also proven to be a valuable tool for industry partners to earn. Some realtors and brokers have referred up to $50 million in mortgage loans through the
program, a testament to its success and the strong relationships the Bank maintains with its professional network.
During the evening, awards were presented to top-performing agents and brokers who consistently referred clients to Scotiabank and demonstrated unwavering support of the Bank’s mission to deliver quality financial solutions.
“We are proud to recognize and celebrate the professionals who play such a vital role in helping people achieve the dream of homeownership,” said Na-amah Barker, Director of Retail Banking and Small Business, Scotiabank Bahamas. “Their trust in Scotiabank, paired with their commitment to their clients, is what makes our Mortgage Referral Programme so impactful.”
Scotiabank continues to be the preferred bank for mortgages in The Bahamas, thanks to its competitive rates, flexible financing options, and
a deeply knowledgeable team of mortgage specialists who provide personalized guidance every step of the way. Working in tandem with a trusted community of real estate agents, brokers, and legal advisors, the Bank ensures that clients experience a smooth and informed mortgage journey from pre-approval to closing.
“Our network of referral partners is more than just a channel, it’s a community,” added Barker. “By working together, we’re creating a stronger, more supportive real estate ecosystem that’s centered on helping Bahamians build generational wealth through property ownership.”
Monica Knowles, Broker at Realty One Group Bahamas, praised the initiative and emphasized its significance for the wider market. Scotiabank continues to be the institution of choice for funding when acquiring a home.
Scotiabank Bahamas Hosts Exclusive Mortgage Seminar
Scotiabank extended its heartfelt appreciation to all who attended the seminar, shared insights and contributed to a memorable evening of collaboration and connection. The Bank remains committed to supporting its partners and clients alike, as it continues to lead in the mortgage space with integrity, innovation and impact.
Captioned Photos
Header: Demetri Mackey – Scotiabank Carmichael Rd branch manager & Jarissa Russell, Scotiabank East st & Soldier rd branch manager and guest presenter Wence Martin Attorney were panelist at the evening’s event.
1st insert: ERA Dupuch Real Estate team were happy to be in attendance a the Scotibank Mortgage Seminar.
2nd insert: James Galantis – agent at The Agency Bahamas Real Estate in conversation with industry colleague.
3rd insert: Lindsey Cancino – Bahamas Reality awarded Top Referral Partner with Na-amah Barker – Director of Retail Banking and Small Businesses
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