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The Isla Refinery was opened by Shell during World War I. PDVSA has been in charged of operations since 1985, however this lease contract expired in 2019. Dialogues are being held with potential Investors regarding the future of the refinery. The Government is evaluating scenarios such as upgrading, building a new refinery and closing (and redeveloping the land). The refinery contributes to the direct employment of approximately 1500 persons including contractors.
The cost of energy in Curaçao is around US$ 0.33/kWh (Commercial). 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 three 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.
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