WILLEMSTAD – Curaçao is increasingly generating electricity from renewable sources, while simultaneously reducing energy costs, according to Neysa Isenia, director of the island’s utility company Aqualectra. In a presentation last week at a meeting of the Dutch Caribbean Economists Association, Isenia revealed that by 2027, more than 70% of the island's electricity will be generated sustainably, with fuel consumption for electricity production decreasing by more than half. 

Isenia emphasized that the energy transition is well underway. In 2012, only 9% of the island’s electricity came from renewable sources like wind and solar. By 2024, that figure will rise to nearly 30%. Through the construction of new wind turbines, a solar park with battery storage, and the upgrade of older installations, Aqualectra aims to more than double this share in just three years. 

Declining Costs 

At the same time, average electricity rates are dropping. In 2024, households will pay 6% less per kilowatt-hour than the previous year. Isenia attributed this decrease to higher availability of power plants and the switch to cheaper fuels. Water prices also saw a slight reduction. 

This development is also having a visible economic impact. In 2024, Aqualectra invested nearly 180 million guilders, more than double the amount spent in the previous year. Preliminary figures show that this investment contributed 2% to the island’s economic growth. Additionally, over 350 jobs were created. 

Future Investments 

Looking ahead, the utility company plans further investments. This year, a new 40-megawatt diesel power plant will be constructed, followed by a 10-megawatt solar park in 2026, with battery storage capable of holding 30 megawatt-hours of energy. In 2027, Aqualectra plans to replace older wind farms and prepare the grid for a future with fluctuating energy supplies. 

Isenia acknowledged that the energy transition also presents challenges, such as a lack of clear legislation, digital vulnerabilities, and the need to upskill the workforce. She urged policymakers, regulators, and businesses to continue working together to build a reliable, affordable, and sustainable energy system for the island.