The Government of Grenada, through the Ministry of Finance, has secured significant financial support for the implementation of a Battery Energy Storage System (BESS) Project.
The approved financing package includes a loan of up to US$5.7 million and grant funding totalling approximately US$3 million. This support is provided through the Caribbean Development Bank’s Special Funds Resources, with contributions from the Government of Canada, the United Kingdom, and the European Union under regional sustainable energy initiatives.
The project will support the deployment of modern battery storage infrastructure to strengthen Grenada’s electricity grid, enhance renewable energy integration, improve reliability, and build national resilience against climate-related disruptions.
Permanent Secretary in the Ministry of Finance Mike Sylvester welcomed the approval, noting that the initiative aligns with the government’s strategic focus on energy security and sustainable development.
“This project represents a major investment in Grenada’s energy future. It will strengthen grid stability, support renewable energy expansion, and advance our national commitment to building a resilient and sustainable economy,” Sylvester stated.
The Ministry of Finance is currently facilitating the execution of the Loan and Grant Agreements to enable the timely implementation of the project.
The Government of Grenada thanks its regional and international partners for their assistance in modernising our climate-smart infrastructure, promoting clean energy, and supporting sustainable national development.
Ministry of Finance
