The Regulatory Authority of Bermuda (RA) has launched a Request for Expression of Interest (RfEoI) for the development of a floating solar photovoltaic (FPV) power plant, marking the first stage in a multi-step procurement process.
The project forms part of Bermuda’s 2019 Integrated Resource Plan (IRP), which targets 85% renewable energy penetration by 2035.
With limited land available, the RA views FPV technology as a viable solution for expanding solar capacity. The government has authorised the use of designated seabed areas for such development.
According to the RA, the project could deliver up to 10 MW of floating solar capacity, either at a single large site or across multiple smaller sites. Proposed systems are expected to connect to Bermuda’s 22 kV electricity network. Preliminary sites include locations on the east and west sides of Finger.
Through the RfEoI, the RA seeks to identify experienced developers capable of managing a full FPV project, from feasibility studies and system design to installation, commissioning, and potential operation.
The process
The tender process will follow three stages: Expression of Interest (current stage), Request for Qualification (RFQ), and Invitation to Tender (ITT).
Only bidders that pass the prequalification stage will advance to later phases. The successful developer will be remunerated through a long-term power purchase agreement (PPA) with BELCO, Bermuda’s Transmission, Distribution and Retail (TD&R) licensee.
An Evaluation Panel (EP), comprising representatives from the RA, government departments, and other stakeholders, will oversee the process.
Assessment will be based on criteria such as technical and managerial capacity, financial stability, relevant experience, and cost estimates for power generation.
The indicative timeline sets the deadline for Expression of Interest submissions at 4 November 2025, with evaluation continuing through the end of the year.
The RFQ stage is scheduled to begin in January 2026, with tenders expected by the third quarter of 2027. The winning and reserve bidders are due to be announced in early 2028.
