Cayman OTEC would initially provide 6.25 megawatts (MW) of wholesale electric power to CUC within the first year of operation, at rates comparable or below those currently applied by CUC. As a result of the initial OTEC facility, approximately 4.78 million gallons of diesel usage a year can be displaced. The intention is to grow this supply to 25MW over five years.
The Cayman OTEC project will be thoroughly reviewed by the Environmental Review Board of the Cayman Islands, as per the Environmental Impact Assessment process, to assure that all environmental concerns are addressed. In addition, Cayman OTEC has commissioned extensive interconnection assessments, environmental studies, and financial analysis related to development of this project and this has resulted in the project being ready to transverse the required government approval processes, beginning with the Electricity Regulatory Authority of the Cayman Islands.