ECCB 2022-2023 Annual Report and Financial Statements

Eastern Caribbean Central Bank Annual Report 2022 - 2023

I n March 2023, the Bank completed the integration of two battery plants in its Solar Canopy farm in order to facilitate the storage of excess solar renewable energy. With the commissioning of the storage battery plants, the Bank will now realise an increase from 60.0 per cent to 80.0 per cent reduction in electrical costs for the from 970 kW AC of electricity produced from the solar farm. In terms of and estimated reduction of 3,440,000 lbs of Carbon Dioxide (CO2) emissions is estimated per year, and a projected reduction of 51,316 tonnes of CO2 emissions over the 30 year photovoltaic (PV) System lifetime. Greening of the ECCB Campus

ECCB Wins 2022 Central Banking Green Initiative Award

The ECCB received the 2022 Central Banking Green Initiative Award for its Solar Canopy Project also called the Greening of the ECCB Campus Project. The project’s design involved solar panels installed in a series of canopies over the Bank’s parking lot at its Headquarters in Basseterre, Saint Christopher (St Kitts) and Nevis, and is the biggest solar-power generator on the island. It is also considered the largest solar-power system in the Eastern Caribbean operated by any entity other than a power company. The objectives of the projects are to: lower carbon emissions; create a demonstration project that other ECCB member countries can emulate towards a faster transition to renewable energy; advocate for the region, particularly in the case of large emitters, encouraging them to do more to reduce carbon emissions; and to reduce ECCB’s operating expenses related to power consumption.

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