The Trinidad and Tobago Electricity Commission (T&TEC) power plant at Cove Eco-Industrial and Business Park in Lowlands is proving to be a good investment.
This according to Chief Secretary Orville London, who met with officials from T&TEC to get an update on several projects being conducted by the Commission in Tobago.
The power plant, was commissioned in October 2009 after being constructed at a cost of $US 100 million. London said the plant’s four generators have all been fully commissioned and are fully operational on natural gas.
London said the plant has seen fuel consumption costs cut by 50 percent.
“(This equates to) between $5 million and $6 million a month, so that is 60-70 million a year,” the Chief Secretary said. “In ten years, you make back the capital cost in savings. And of course, it’s a much more reliable, much more predictable service.”
The Cove Eco Industrial and Business Park is one of the first eco-industrial parks within the Caribbean. The plant allows for increased energy independence on the island, and the potential to begin exporting electricity to Trinidad.