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Double-digit growth forecast for Trinidad peak power demand

Bnamericas Published: Tuesday, January 24, 2023
Double-digit growth forecast for Trinidad peak power demand

Peak power demand in Trinidad and Tobago is projected to hit 1,600MW by 2032, up 14% from last year.

Prime Minister Keith Rowley provided the outlook at the annual conference of the Energy Chamber of Trinidad and Tobago.

“During this period the PPAs of two of the country’s major independent power producers, representing 40% of the country’s installed generation capacity, are due to expire. We therefore have an opportunity to achieve much of the target of 30% of power from renewables,” he said.

Rowley highlighted the scheduled start of construction of the Caribbean nation’s first utility-scale solar park this quarter, adding that the renewable energy plant will meet 8% of the country’s power generation requirements.

Read Lightsource bp, Shell and bp receive green light for T&T's first large-scale solar project and Signing Ceremony for Trinidad and Tobago Utility Scale Solar PV Project

Natural gas currently accounts for nearly 100% of power production in Trinidad and Tobago.

“There is a major opportunity cost in using natural gas for electricity generation that could instead be channeled to petrochemicals and LNG, to generate higher value including much-needed foreign exchange for the country,” chamber chairman Jerome Dookie said at the event.

The Prime Minister also pointed to the government’s recent launch of a green economy roadmap and announced that the energy ministry is reviewing feed-in tariff legislation, which will be presented to the cabinet this quarter.

Nevertheless, Rowley said that renewables will not replace oil and gas in the near to medium term, and that government policy calls for a measured approach to the energy transition.

“In this regard we will be pursuing the accelerated exploration and development of our hydrocarbon resources as we transition to a lower carbon economy.”

Read Trinidad readying upstream round, receives 16 bids in latest call

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