WILLEMSTAD – The former Isla refinery site is set to become the heart of a sustainable industrial zone featuring hydrogen production, recycling, solar energy, and food production. Patrick Newton, director of 2BAYS Curaçao (the successor to RdK), announced this vision last week during a meeting of the Dutch Caribbean Economists Association. Newton emphasized that the global energy transition presents a unique opportunity for Curaçao to reshape its economy.
2BAYS, which officially began operations in October 2024, manages the refinery and oil terminal site in Bullenbaai. Newton unveiled a development plan focused on repurposing the existing infrastructure. The plan outlines five key commercial sectors: sustainable energy, waste management, logistics, food and pharmaceuticals, with a limited continuation of oil-related activities such as asphalt production and storage.
Eco-Industrial Park
The former refinery site at Schottegat will be transformed into an eco-industrial park, offering space for solar parks, recycling facilities, innovation centers, and ship repair yards. In Bullenbaai, 2BAYS plans to focus on hydrogen production and biomass. The first phase of the development will involve soil remediation and the installation of basic infrastructure, including drainage systems and access roads.
Newton stressed that while Curaçao should not forget its historical ties to the oil industry, it should leverage them as a springboard into the future. Collaboration with international partners will play a key role in this transition. 2BAYS aims to gradually move toward a circular economy, with a focus on resource reuse and environmental sustainability.
The development plan covers over 220 hectares of land across the former Isla location and Bullenbaai. According to Newton, the redevelopment will help create jobs, foster economic growth, attract foreign exchange, and improve the local environment. Social goals, including poverty reduction, good health, and quality education, are also central to the initiative.
Uncertain Future for Refining in the Caribbean
The presentation also highlighted the uncertain future of the refining sector in the Caribbean. Over the past 35 years, refining capacity has plummeted from more than 1.6 million barrels per day to about 160,000 barrels per day. Oil production is only growing in countries like Guyana and Suriname. Newton argued that in light of this decline, Curaçao must focus on innovation and sustainability to remain competitive.
By positioning itself as a hub for renewable energy and circular industries, Curaçao aims to diversify its economy and become a leader in the green transition, ensuring its place in the evolving global energy landscape.
