OIL REFINERY AND RENEWABLE ENERGY

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Oil Refinery and Renewable Energy

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Refinery

The Isla Refinery was opened by the Shell during World War I. Since 1985, the Venezuela state oil company PDVSA is in charge of operations, however this lease contract expires in 2019. Dialogues are being held
with the government of Venezuela regarding the future of the refinery. Scenarios such as upgrading, building a new refinery and closing (and redeveloping the land) are being evaluated by the Government. The refinery contributes to the direct employment of approximately 1500 persons including contractors and 5.3% of the island’s GDP.

Renewable Energy

The cost of energy in Curaçao is around US$ 0.45/ kWh. Increase in prices has led to an increase in interest of renewable energy sources such as seawater air conditioning, wind energy and solar power. Studies show that 95% of the wind in Curaçao comes from the same direction with almost constant speeds (average wind speeds at 30 m is 8-9 m/s) creating good conditions for Wind Farms. Curaçao has two Wind Farms which are situated at Playa Kanoa and Tera Kora. The local government is committed to clean energy as the Caribbean leader in wind energy. Small businesses and inhabitants with a solar power system have the ability to offset the electricity costs by selling excess power back to the local utility company.
• Wind parks
• Solar parks
• Other renewable energy sources (e.g. wave energy, biomass energy)