Reducing Energy Cost And Energising Education - New Fortress Energy And UWI Ink Cash-Saving Deal
July 16, 2017
Starting September, the University of the West Indies should see a reduction in its electricity bills through the introduction of liquefied natural gas (LNG) under a deal it has inked with New Fortress Energy.
The deal will see the Mona campus of the university upgrading its combined heat and power (CHP) plant to reduce its energy costs by some $52 million annually.
This will also improve the university's environmental footprint with a 16 per cent reduction in greenhouse gas emissions.
According to founder and chairman of New Fortress Energy, Wes Edens, the changes will be visible as soon as this September, and will enable the campus to become energy independent in the coming year.
"It will further allow clean and renewable energy to accelerate economic opportunity and environmental stewardship," said Edens, as he argued that this will be crucial for the university's development in education.
The deal with New Fortress Energy to supply LNG is a prelude to the expansion of the capacity of the Mona campus' cogeneration plant, which will facilitate an additional $312 million annually in savings.
Cogeneration or CHP produces electricity as well as thermal energy, which will be used to cool the buildings on the campus...