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A Bermudian company has been awarded a $2.9 million contract to install solar panels on the roofs of four Government buildings.

The panels are expected to save the taxpayer $500,000 a year in energy costs.

David Burch, the Minister of Public Works, announced in the House of Assembly today that Alternative Energy Systems outbid three other companies for the contract.

Lieutenant-Colonel Burch said the contract, for the General Post Office, the Government Administration Buildings, the Public Transportation building and the Transport Control Department building, was tendered in May, 2019, but was postponed due to lack of Government funds.

He added AES was successful because its proposal maximised the total roof area at the Public Transportation building.

The other bidders planned to use a smaller area of the roof, which would have meant a lower price, but lower savings.

Colonel Burch said: “The forecasted annual cost savings over the life cycle of the solar system is close to $500,000 per annum – far exceeding the other proposals and therefore represents best value for money.”

He added the solar panel project was the first of 40 projects valued at $11 million announced by Curtis Dickinson, the finance minister, earlier this week.

Colonel Burch said a revised capital development plan would be produced to set out targeted project expenditure using some of the proceeds of the Government’s recent debt raise.

He added the move was designed to keep Bermudians working while the economy recovers from the economic shock of the Covid-19 pandemic.

Colonel Burch said: “This Government is determined to do all it can to stimulate this economy and create jobs for Bermudians as well as support the private sector in doing the same.”

* To read the Ministerial Statement in full, see PDF under Related Media.