ANGLEC and the Caribbean Development Bank (CDB) have agreed to the terms for a multi-million-dollar loan to fund a 12 megawatt solar farm in Anguilla.
Both parties signed the contract on 1 April, according to utilities and infrastructure minister Jose Vanterpool, who added that the next step is to establish a project management unit.
Speaking at a government press conference on 13 April, he said ANGLEC has already engaged a regional procurement specialist for the unit and member positions have been advertised regionally.
Anguilla Focus is not owned by shareholders or investors. Members like you help fund our independent work. Click here to support us from $4/month.
Meanwhile, the designs for the renewable energy facility, to be built in Corito, are “largely complete” and will be soon finalised, the minister said.
Details of the loan’s value have not yet been released, however, ANGLEC and the Ministry of Utilities committed to issuing a formal public disclosure of all financial details following loan approval.
During an interview on Radio Anguilla last August, Carty discussed said the loan agreement would be “somewhere in the region of” US$20 million.
Speaking in response to a media question about the relationship between the government’s financial standing and loan approval, Vanterpool said the two were not linked.
“ANGLEC was awarded the loan in CDB based on the own merit of the companies, based on their financial statements,” he said.
“Government’s financial state standing, whether good, bad or in between, has nothing to do with that process. In fact, we won’t engage on that level.”
The Anguilla Electricity Company (ANGLEC) is a publicly traded company in which the government controls the majority of the shares.
