Aqualectra Receives SDE++ Subsidy to Advance Investments in Renewable Energy

WILLEMSTAD--Aqualectra proudly announces that the Dutch Government has confirmed a subsidy for Curaçao under the “Stimulation of Sustainable Energy Production and Climate Transition” (SDE++). This subsidy is granted to companies working to generate renewable energy on a large scale or to reduce CO2 emissions.

Since 2022, Aqualectra has been working toward this subsidy, and in 2024 formally submitted an application to the Dutch Government for an amount of 70 million euros to invest in projects that will make the distribution of energy more sustainable and stable for the future while contributing to renewable energy production. The amount requested by Aqualectra has not yet been fully granted, but it represents a major step forward.

Aqualectra has consistently pursued the path toward this subsidy as a financing alternative. This will help reduce financial pressure and interest costs for the company, which directly impact the cost of electricity rates for consumers. It also shows that Curaçao is seriously engaged in the energy transition by seeking international financing to support investments that meet the growing energy needs of the community.

Aqualectra is currently working on long-term investments in its grid to meet its mission of fundamentally serving its customers. An example is the implementation of an Energy Storage System through a Battery Energy Storage System (BESS). Additional investments will be made to strengthen and expand the electricity grid, including in the Banda Bou area.

"With this subsidy, we can move forward more decisively with projects that will reduce electricity rates, reach our target of 70% renewable energy penetration by 2027 (currently at 50%), reduce Curaçao’s dependence on volatile international fuel prices, improve the island’s balance of payments by importing less fuel, and increase our foreign currency reserves.

“This support strengthens our mission and reinforces our commitment to building a sustainable future for the community. The granting of this subsidy, together with other local and international funding received by our organization, is solid proof that the direction we have taken toward sustainability and grid stability is the right one,” said Neysa Isenia, Chief Financial Officer of Aqualectra.

Aqualectra expresses its gratitude for this support and reaffirms its dedication to continue driving innovation and green energy solutions that will provide reliable, affordable, and sustainable energy supply and production for the Curaçao community.

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