Local News Article

Minister To Hold Discussion On Sale Of Grenlec Shares And A New Developmental Framework For Grenada’s Electricity

Posted By ministry of finance On Friday 04 January, 2013, 7:13 pmPage Views: 1633

News Image

The Government of Grenada has articulated a clear and compelling vision for Grenada’s economic transformation by identifying five transformational pillars for building a new and modern economy, thereby laying the foundation for sustained growth and development. These pillars are viewed as having the greatest potential to contribute to the economic transformation of Grenada.

 

Energy Development is one of the pillars of this new and modern economy.

 

 ‘”The vision of the Government of Grenada is that by 2030, 100% of our primary energy demand for electricity generation and for transport will be provided by renewable energy sources”

This was articulated by Prime Minister Hon Tillman Thomas in promoting the GREENada vision 2030.

 

Government is convinced that the ultimate solution to the drain on the country’s foreign reserves caused by the high costs of energy is to transition to a low carbon economy based on the use of indigenous sources of renewable energy and on energy efficiency. A National Energy Policy, which was approved March 2011, makes provision for Grenada to explore energy development in the following areas: - Wind, Solar, Geothermal, Waste Material ,and Hydrocarbon.

 

Given the recent opportunity presented to Government with the sale of shares in GRENLEC by the major shareholders, Government has developed a new framework for Grenada’s Electricity Sector. This framework proposes a number of changes which include:

 

-   An exclusive license will be granted to GRENLEC to generate electricity from fossil fuels only and for all transmission, distribution and supply for a period of 45 years. However, no future owner of GRENLEC will have any exclusive licence for longer than 30 years;

-   The GoG (Government of Grenad) will legislate Renewable Electricity Portfolio Standards in the amended ESA (Electrical Supply Act), with penalties for non-compliance. These standards will determine the amount of renewable energy that GRENLEC must use to generate electricity at different times in the future;

-   Renewable Energy Special Purpose Vehicles (RESPVs) will be established for electricity generation from renewable energy sources including geothermal, wind, solar and waste materials;  and

-    A new Interconnection Policy that articulates, among other things, the opportunity for private ownership of small generating systems based on a number guidelines.

In this regard, the Minister of Finance will hold discussions with a wide cross section of stakeholders on the recent sale of the GRENLEC shares and the New Developmental Framework for Grenada’s Electrical Sector on Tuesday January 8, 2013, at the Players Conference Room, Level I, Grenada national Stadium, from 9:00 am to 12 noon.

 

Persons who are interested in attending this forum can contact the Ministry of Finance at (473)435-0057 or at financegrenada@gmail.com.

 

Latest News Added

  1. Karan Woodruffe Wins The Angostura Aromatic Bitters Grenada Cocktail Challenge
  2. Wanted Man Returns To St. Vincent From Grenada
  3. "Soca Vs Dancehall" Is Sunshine Promotions Show
  4. NDC Former National Security Adviser Dies
  5. St. Andrew To Meet St. George In WPL Final
  6. Public Service Week
  7. Adjustment In Price Of Petroleum Products
  8. Queen's Birthday Honours List 2013
  9. Lance Aux Spines Resident Drowns On Father’s Day
  10. Volleyball Association Preparing To Host Second Round Female World Championship Qualifiers

In Studio Cam


Live Video streaming by Ustream

Local Advertisements

Support Our Site

Listen Live Radio

Windows Media Player iTunes Winamp Quicktime Real Media Player

Local Advertisements

Waggy-T Bingo And Dance

This Week's Poll

Stay Connected

Web Site Terms and Conditions of Use

1. Terms

By accessing this web site, you are agreeing to be bound by these web site Terms and Conditions of Use, all applicable laws and regulations, and agree that you are responsible for compliance with any applicable local laws. If you do not agree with any of these terms, you are prohibited from using or accessing this site. The materials contained in this web site are protected by applicable copyright and trade mark law.

2. Use License

  1. Permission is granted to temporarily download one copy of the materials (information or software) on www.weefmgrenada.com's web site for personal, non-commercial transitory viewing only. This is the grant of a license, not a transfer of title, and under this license you may not:
    1. modify or copy the materials;
    2. use the materials for any commercial purpose, or for any public display (commercial or non-commercial);
    3. attempt to decompile or reverse engineer any software contained on www.weefmgrenada.com's web site;
    4. remove any copyright or other proprietary notations from the materials; or
    5. transfer the materials to another person or "mirror" the materials on any other server.
  2. This license shall automatically terminate if you violate any of these restrictions and may be terminated by www.weefmgrenada.com at any time. Upon terminating your viewing of these materials or upon the termination of this license, you must destroy any downloaded materials in your possession whether in electronic or printed format.

3. Disclaimer

  1. The materials on www.weefmgrenada.com's web site are provided "as is". www.weefmgrenada.com makes no warranties, expressed or implied, and hereby disclaims and negates all other warranties, including without limitation, implied warranties or conditions of merchantability, fitness for a particular purpose, or non-infringement of intellectual property or other violation of rights. Further, www.weefmgrenada.com does not warrant or make any representations concerning the accuracy, likely results, or reliability of the use of the materials on its Internet web site or otherwise relating to such materials or on any sites linked to this site.

4. Limitations

In no event shall www.weefmgrenada.com or its suppliers be liable for any damages (including, without limitation, damages for loss of data or profit, or due to business interruption,) arising out of the use or inability to use the materials on www.weefmgrenada.com's Internet site, even if www.weefmgrenada.com or a www.weefmgrenada.com authorized representative has been notified orally or in writing of the possibility of such damage. Because some jurisdictions do not allow limitations on implied warranties, or limitations of liability for consequential or incidental damages, these limitations may not apply to you.

5. Revisions and Errata

The materials appearing on www.weefmgrenada.com's web site could include technical, typographical, or photographic errors. www.weefmgrenada.com does not warrant that any of the materials on its web site are accurate, complete, or current. www.weefmgrenada.com may make changes to the materials contained on its web site at any time without notice. www.weefmgrenada.com does not, however, make any commitment to update the materials.

6. Links

www.weefmgrenada.com has not reviewed all of the sites linked to its Internet web site and is not responsible for the contents of any such linked site. The inclusion of any link does not imply endorsement by www.weefmgrenada.com of the site. Use of any such linked web site is at the user's own risk.

7. Site Terms of Use Modifications

www.weefmgrenada.com may revise these terms of use for its web site at any time without notice. By using this web site you are agreeing to be bound by the then current version of these Terms and Conditions of Use.

8. Governing Law

Any claim relating to www.weefmgrenada.com's web site shall be governed by the laws of the State of Grenada without regard to its conflict of law provisions.

General Terms and Conditions applicable to Use of a Web Site.

Privacy Policy

Your privacy is very important to us. Accordingly, we have developed this Policy in order for you to understand how we collect, use, communicate and disclose and make use of personal information. The following outlines our privacy policy.

We are committed to conducting our business in accordance with these principles in order to ensure that the confidentiality of personal information is protected and maintained.

What information do we collect?

We collect information from you when you subscribe to our newsletter.

When ordering or registering on our site, as appropriate, you may be asked to enter your: name or e-mail address. You may, however, visit our site anonymously.

What do we use your information for?

Any of the information we collect from you may be used in one of the following ways:

; To improve our website
(we continually strive to improve our website offerings based on the information and feedback we receive from you)

; To improve customer service
(your information helps us to more effectively respond to your customer service requests and support needs)


; To send periodic emails

The email address you provide may be used to send you information, respond to inquiries, and/or other requests or questions.

How do we protect your information?

We implement a variety of security measures to maintain the safety of your personal information when you enter, submit, or access your personal information.

Do we use cookies?

We do not use cookies.

Do we disclose any information to outside parties?

We do not sell, trade, or otherwise transfer to outside parties your personally identifiable information. This does not include trusted third parties who assist us in operating our website, conducting our business, or servicing you, so long as those parties agree to keep this information confidential. We may also release your information when we believe release is appropriate to comply with the law, enforce our site policies, or protect ours or others rights, property, or safety. However, non-personally identifiable visitor information may be provided to other parties for marketing, advertising, or other uses.

Third party links

Occasionally, at our discretion, we may include or offer third party products or services on our website. These third party sites have separate and independent privacy policies. We therefore have no responsibility or liability for the content and activities of these linked sites. Nonetheless, we seek to protect the integrity of our site and welcome any feedback about these sites.

Childrens Online Privacy Protection Act Compliance

We are in compliance with the requirements of COPPA (Childrens Online Privacy Protection Act), we do not collect any information from anyone under 13 years of age. Our website, products and services are all directed to people who are at least 13 years old or older.

webmaster@weefmgrenada.com

admin@weefmgrenada.com

Online Privacy Policy Only

This online privacy policy applies only to information collected through our website and not to information collected offline.

Your Consent

By using our site, you consent to our online privacy policy.

Changes to our Privacy Policy

If we decide to change our privacy policy, we will post those changes on this page.

Contacting Us

If there are any questions regarding this privacy policy you may contact us using the information below.

weefmgrenada.com
Clozier
St. John, Grenada 10101
Grenada
dhotshotkid@hotmail.com
14734149995