Companies sign memo of understanding for two ocean thermal energy conversion plants in Bahamas

Ocean Thermal Energy Corp. and Bahamas Electricity Corp. have signed a memorandum of understanding to develop two ocean thermal energy conversion plants in the Bahamas.

With the signed MOU, OTE Corp. will move forward with BEC to complete the design process for these two plants. This work is expected to culminate with BEC building, owning and operating the world’s first two commercially viable OTEC plants. In addition to electricity, the plants are expected to provide potable water.

“This is a historical time for BEC and residents of the Bahamas,” says Kevin Basden, general manager of BEC. “We are looking forward to working with OTE Corp. to bring this technology and energy independence to our communities.”

OTE Corp. intends to bring OTEC to the nearly 100 tropical regions around the world where land-based commercial OTEC plants are now an economically viable solution.

BEC operates electric generation, transmission and distribution systems across the Bahamas. The company has a policy to promote renewable energy resources to maximize Bahamian energy independence and environmental benefits.

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