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BAMC Breaks Contract With CoopEnergy, Mediation Fails

Trevor Browne

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Update on the CoopEnergy and BAMC matter – 16 August 2026

As you know, CoopEnergy Barbados has been pursuing a resolution of the stalled sugar industry project that was started with the BAMC / government back in 2022.

The formal shareholders’ Agreements, both signed by all parties, stipulated that any disputes which may arise are to be subjected to a mediation process in an attempt to achieve resolution.

As you may know, the mediation process requires that matters discussed during the sessions are to be kept confidential, and we were therefore constrained in the sharing of details during the process.

The final session of mediation between CoopEnergy and BAMC concluded on August 13, 2026. We have been unable to reach a mutually satisfactory agreement between the two parties.

The attached Members’ Update now seeks to bring all of our members and associates up-to-date on our current situation, and additionally, we will shortly be convening a special general meeting specifically to seek collective guidance from our members on our next steps.

Public statement- BAMC Sugar Deal

This project is one of immense significance for the co-operative movement in general, and certainly for CoopEnergy. We have committed substantial resources to its successful implementation and we are extremely confident of our ability to oversee its success.

Member Update Aug – CoopEnergy 2026

We are therefore hoping for your active participation in charting a quick resolution to this matter.

For easy reference, a copy of our previous update – which contains additional details is included.

Trevor Browne

President

CoopEnergy Barbados

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20 responses to “BAMC Breaks Contract With CoopEnergy, Mediation Fails”

  1. Pachamama Avatar
    Pachamama

    This writer is unsurprised. Further, we estimated that these negotiations were from the beginning fraught, destined to avoid any amicable resolution. A resolution serving the interests of CoopEnergy.

    Primarily because of the attitude of this BLP government as it enforces its neoliberal, IMF based, policy of suffocating the masses in the service of meaningless, anti-developmental, outcomes.

    If anyone had any doubt about the innate wickedness of this government this must certainly put paid to that.

    We have a government willing to give all kinds of favourable concessions to all manner of foreign interests, including Afreximbank, but when it comes to the still fledgling cooperative movement, not even the routine matter of audited financial statements, on an industry long-bedeviled by losses and government bailouts, are possible to be provided to CoopEnergy.

    Maybe this is a blessing in disguise. Maybe CoopEnergy will come to see that a technological leap needs to be made in the energy space which properly addresses the backbone of national energy needs, forswearing all involvements at the fringes.

    Regrettably, this view will not be majoritarian. This will not be the first time we’ve found ourselves in a minority. When we argued for a presence of Broad Street, that idea toooo was ruthlessly resisted, until it wasn’t!

  2. David Avatar
    David

    So far there has not been any raucous discussion coming from the prominent talking heads in the Barbados space about this issue. One suspects because the intricacies of the deal between CoopEnergy and government remains unclear to the general public like many other deals. Could be the usual civic disengagement. It is a transaction that will not capture headlines in the manner of Suarez Circus anyway.

    Are we there yet?

  3. David Avatar
    David

    Clyde Mascoll was very vocal when this transaction was first announced to the public, in stark contrast to which, he has gone ghostly silent. Isn’t he one of the architects of this transaction on behalf of the government? We know it was he and not Indar Weir – since booted to a nondescript ministry – driving the decision making. Prime Minister Mottley is not known to be strong on the technical aspects.

  4. Pachamama Avatar
    Pachamama

    CoopEnergy is discussing an energy project at a time when international financial markets are being manipulated, consistently and for up to a year. Manipulated by Bessett the Secretary of Treasury himself.

    Inspite of the manipulation of the futures markets or the ‘paper oil markets’ between counterparties for delivery at some point in the the future, solely based on the wanderings of a mad man, in collusion with Bessett. Injured on both sides of course!

    Nothing is happening within the spot markets to either stop the inflationary trends on the delivery side, within the real markets.

    Whether we’re talking about helium, kerosene, deisel, aeroplane fuel, fertilizer or any other of the by-products of oil and gas, largely from sour crude, and indispensable to agriculture, ground transportation, air travel etc the world continues, at a brek neck speed, towards either the end of empire or the use of nuclear weapons to so maintain.

    Maybe it might well be time for CoopEnergy to reconsider their investment.

  5. NorthernObserver Avatar
    NorthernObserver

    Where, oh where, is Weir? How many more diplomatic, or other ambassadorial roles can exist for the cast always.
    The interesting player in this was the BSIL, who at first said they knew nothing about the deal, later, it had been offered but they weren’t interested, then the odd story that Browne was known to not deliver.
    Initially we ‘heard’ that ‘some DLP member’ had cut a sweetheart deal with some UK Distributor who was buying sugar at less than its production cost. Then, the story was the deal had been annulled. All the while, “things were moving forward”, until, it came time to provide financials from an entity which hasn’t reported in many years, the BAMC.
    Meanwhile, the GoB has spun off two NewCos, and the good Lord only know what was transferred into them and from where (Weir?). But like the NISSS, not a financial is available? Either before the NewCos or after.
    We like it so !!!!
    But doan mind me, come and invest in Buhbaydus, let Chris S be your guide.

  6. David Avatar
    David

    Indar A. Weir serves as Barbados’ Minister of Public and Private Investment.

  7. David Avatar
    David

    Both Mascoll and Browne on the Brasstacks show to inform the public about the CoopEnergy/BAMC more than hinted about the selling of the sugar below production cost. As usual nobody will be held accountable.

  8. Pachamama Avatar
    Pachamama

    Barbados has historically sold cane sugar below production costs for more years than not.

  9. Trevor Browne Avatar
    Trevor Browne

    In response to David
    August 17, 2026 at 7:38 am

    The proposed deal between BAMC and CoopEnergy is not particularly intricate.
    It is common knowledge that the business of government is much better focused on regulation, legislation and coordination, than it is to innovation, creativity, and the management of productive enterprises.
    The Barbados sugar industry has become a vital aspect of the country’s character and structure after hundreds of years of operation. It has implications for national food crop production, soil erosion, the rum and spirits industries, and the general appearance of our landscape – among its many critical features.
    This is why our government justifies subsidizing this sector to the tune of millions of dollars annually.

    Therefore when pressed by our international lending agencies therefore to stop such subsidies, the offer by CoopEnergy to step into the picture, and to transform the industry into a renewable energy operation – focused initially on bio-fuels, and to expand sugar cane operation – where the residual plant matter now becomes a fuel source, presented a win-win situation for the country.

    Our proposal also anticipated an early end to government’s current annual subvention to BAMC – a saving of some $20 million each year. Therefore we are not speaking of a profitable and successful asset being transferred to CoopEnergy, but of a national liability being offered a lifeline – through the ownership and support of the national cooperative movement and its over 200,000 members.

    Critical to CoopEnergy’s requirements were:
    a- Full disclosure on all assets, liabilities and equity information of the business
    b- Full independent (non-political) operations at the policy level
    c- Significant involvement of the workers at all levels of the operation, including policy.

    We enjoyed almost 100% support for this exciting initiative right up to the point where the Agreement was signed, and coincidentally, where the country was able to access the IMF loan. Then all kinds of additional ‘requirements’ were imposed, that were not included in the original understanding, and which violated CoopEnergy’s declared critical requirements. Clearly these were designed to frustrate the completion of the agreement.

    Finally we received communication from BAMC of their decision to ‘invalidate’ the contracts.
    The only reason that we have been able to garner from BAMC for this action is that government has had a ‘change of mind’ since signing on to the contract.
    We certainly never anticipated that business could be conducted in such a manner – particularly at the level of government.

    As a member controlled cooperative, CoopEnergy will now seek guidance from our membership on our path forward. However this was no intricate or shady deal. It was a brilliant initiative, with win-win outcomes for all but a few interests groups.

    Trevor Browne

  10. NorthernObserver Avatar
    NorthernObserver

    @TBrowne
    “We certainly never anticipated that business could be conducted in such a manner – particularly at the level of government.”
    Appears if there is any guilt on your side, it is living in a bubble.
    Wasn’t it just days before the ‘spin off’ of BAMC to ABC/BESCO, a similar stunt was pulled with the the NIS, merging it with some minor entity to create NISSS? Despite comments from the PM in August 2023, that NIS reports from 2010-16 had been ‘completed’, did we ever see one? Do you have any idea what was actually transferred into the new entity? Have you seen any reports since?
    The last BAMC Report was in 2013 (???), with some mention of audited financial in a Senate agenda document in Dec 2018. And Co-op thought they were special, and going to be provided with something the GoB doesn’t provide? And this isn’t news, the GoB has been systematically reducing reporting to zero over the years.
    They got their spin off, albeit under odd pretences.
    Did you not see how the Clearwater Bay Limited was conducted? BDD$120M in loan guarantees, where every single loan, including a group which didn’t begin until the Four Seasonings restart actually began, were defaulted. Have you ever read a CBL Annual Report accounting for that $120M? Do you recall shortly after May 2018, the GoB sought to write off those monies, but the Auditor General interjected, asking, where is the collateral land which secured the guarantees? You cannot just write off those monies.
    If you watched how business was actually conducted, none of the pitfalls in your scenario would be a surprise. Disappointing yes, but no surprise.

  11. David Avatar
    David

    @Trevor Browne

    Thanks for the clear summary. Congratulations to you and the Cooperative group for your visionary project. Unfortunately, our politicians are stuck in the mud, preferring to extract life from an IMF supported economic model.

    Let us hope Prime Minister Mottley sees the light. This project fits nicely into her global environment narrative. Logically, it should.

  12. Trevor Browne Avatar
    Trevor Browne

    The comments are all appreciated, and while we were, and continue to be concerned about the clear lack of financial accountability, as a local co-operative that is focused on productive investment we could not just throw our hands up and give up.
    Indeed it appears that our members are equally aware of the concerns raised, and as I have repeated, they specifically directed that CoopEnergy was to make no financial commitments in this matter, without ensuring full that due diligence is done in accord with Cooperative regulations.
    No CoopEnergy or members’ funds have therefore been directly expended in this venture.
    However we have invested significant resources of time, effort, and goodwill to ensure successful operations, in anticipation of a handover by government – which is required as a condition of their IMF loan.
    What appears to us to be the issue, is who government intends to hand the entity over to.
    CoopEnergy however has benefited from the exercise in terms of growth, and we are now even more confident of our long term success as a result.

    @ David
    Our politicians are our members, friends, and relatives, and all of their many shortcomings must therefore be shared by all of us.
    Fortunately, the seven key cooperative principles that drive CoopEnergy, the local office of the Registrar of Cooperatives, and the international fraternity of Cooperatives, all provide us with a solid foundation on which change can be achieved in Barbados, and this is our long term commitment.
    We appreciate the opportunity to use your forum to answer questions that the public may understandably have on this issue.

  13. Enuff Avatar
    Enuff

    LMAO!

  14. David Avatar
    David

    Striking a nerve @enuff?

  15. Bush Tea Avatar
    Bush Tea

    @ David
    Congrats are in order to BU…

    Again you have managed to elicit the most coherent comment yet to be heard from government – on any of the many outstanding issues, …by way of Enuff’s above comment…

    What a place!

  16. David Avatar
    David

    @Bush Tea

    The issue at subject would create a black eye for government IF civil society was switched on.

  17. Trevor Browne Avatar
    Trevor Browne

    The position outlined by NorthernObserver above is an interesting one. It seems to suggest that CoopEnergy, being aware of certain shortcomings in our country’s affairs, should know better than to seek to intervene here with our very transparent proposals for the sugar industry.

    But perhaps this is exactly why groups such as CoopEnergy, as well as other cooperative bodies, who all operate with full transparency, who are fully controlled by members, and who are compelled to produce annual reports within designated time frames, need to become more involved in such national business. This is very common throughout the rest of the world.

    Our members have to live in Barbados for the most part. We must therefore choose whether we want to give up, and allow the ongoing lack of transparency, and presumably, integrity. Or if we will seek to intervene with our tried and proven cooperative principles. These Principles have built for us right here in Barbados, one of the most successful credit union sectors anywhere on Earth in the last thirty years.

    You may wish to note that our upfront preconditions spelt out the need for full transparency as a condition of our going forward. You should also note that BAMC / government agreed to these conditions by signing on to the Shareholders’ Agreement. This is certainly a step forward by both the Coop and by government.
    Change is not always easy to execute, and we at CoopEnergy always saw this project as a medium term investment with significant long term benefits, and not as a quick fix.

    It is quite possible that not everyone in government yet fully grasp the potentialities of this initiative, or appreciate the quality of expertise, experience, skills, and international cooperative support that CoopEnergy brings to this initiative. Rest assured that this is only the beginning of our thrust to bring the cooperative business ethic to Barbados so that we can see more of the successes that we have seen with Credit Unions in recent times.

    Anyone who thinks that CoopEnergy will go away quietly should perhaps have a serious rethink.

    Trevor Browne

  18. NorthernObserver Avatar
    NorthernObserver

    @TBrowne
    My point was as my old auntie told us, if you lie down with dogs you gine get fleas. Hence my concluding comments, the GoB actions are disappointing, but not surprising.
    I am sorry you interpreted any suggestion that Co-op wasn’t being forthright, or that one should fade away in this matter.
    Yet again, the guiding legal principle is delay, confuse, and delay some more. Co-op seems well adjusted to the snails like pace common to many proceedings on the island.
    And am sure Co-ops lawyers will appreciate whatever maybe binding in the various signed agreements. On this you maybe guided that failure to provide an Annual NIS Report is against the law, and that hasn’t stopped three different iterations of the GoB from doing so. And similar failures are widely noted elsewhere.
    It is unclear to me how the tried and proven co-operative principles will defy or change the issues of integrity, morality and accountability within those holding public office. But on that, I wish you every success.
    The GoB seems to have had goals, in this matter, whether reflected in any agreement or not. I am left to guess these have been attained.

  19. David Avatar
    David

    For what it is worth, today’s Nation editorial:

    A troubled partnership

    The collapse of mediation talks between the Barbados Sustainable Energy Cooperative Society Ltd (CoopEnergy) and the Barbados Agricultural Management Company (BAMC) should come as no surprise to anyone.

    It is a real pity as there was much fanfare in December 2023 when a partnership between CoopEnergy and BAMC was announced with a signing of a formal memorandum of understanding (MOU) between the parties.

    This development was supposed to breathe new life into the sugar industry which was faltering, but the thrust was going to be renewable energy from sugar cane. Many were sceptical as CoopEnergy had no track record in this area of activity.

    In addition, the large sums of about $100 million earmarked for the project might have raised some concerns about such a size of the investment by the cooperative movement in a nascent industry that was not fully developed.

    Given the state of the sugar industry in Barbados and the fact that it had reportedly reached its most inefficient historical level in 2025, as represented by a sucrose content of 25.3:1, it would have been a monumental task for CoopEnergy to reverse this trend.

    There are too many variables. In addition, the issue of Portvale factory remains a concern, as it has suffered many operational difficulties and breakdowns over the years. The plant and machinery have outlived their useful life and the maintenance costs are exorbitant.

    We recall that soon after the purported divestment in 2023, it was reported that CoopEnergy had begun operations on January 15, 2024. At that time chairman, retired Lieutenant Colonel Trevor Browne, proudly announced the start of the harvest for that year. He said the new owners had inherited an impressive but old and unfortunately poorly-capitalised sugar factory, even though “it suffered a major breakdown during the 2022 crop, seriously disrupting operations”.

    Browne, however, noted that management of Portvale had taken special care to take all possible steps to reduce such a recurrence as a major overhaul of one of the critical boiler units was required. This ought to have been a red flag.

    Additionally, it was stated that for the first time, workers in the sugar industry would own a 20 per cent stake in the operations of two key companies: the Agricultural Business Company (ABC) and the Barbados Energy and Sugar Company Inc. (BESCO).

    ABC was intended to oversee the more than 4 000 acres of arable land while BESCO would have managed Portvale factory. All this was supposed to usher in a new era of collaboration between workers and industry stakeholders.

    It all went up in smoke as it appears that management of BAMC and CoopEnergy were at odds in respect of the details of the MOU and the extent of their respective responsibilities.

    It could be gleaned at the time that the two companies were fully-owned subsidiaries of BAMC and therefore Government-owned. What was noticeably evident was that CoopEnergy never publicly disclosed whether it had secured financing for the project.

    Worse still, CoopEnergy stated publicly that it was never provided with the financial information on ABC and BESCO as provided in the MOU to make a firm proposal. In addition, a list of assets and their valuation together with financial and other information were not provided.

    Last year, then Minister of Agriculture Indar Weir stated publicly that the proposed partnership was terminated because CoopEnergy didn’t meet its obligations.

    It is not clear how in these circumstances that there was a contract in place. The long-term potential of this project may be there, but there are significant risks which should cause the cooperative movement to tread lightly.

  20. Trevor Browne Avatar
    Trevor Browne

    Good morning.
    Mr Observer, your stance is noted and understood. You do seem to have a much better grasp of the situation than most, and this clearly includes the Nation’s recent editorial on August 21.

    One would have expected that such an editorial would have researched the kind of resources available to CoopEnergy before concluding that “many were skeptical as CoopEnergy had no track record in this area of activity”.
    We do not recall such serious concerns being raised when completely unknown entities suddenly arrive on the scene in areas such as building fly-overs, acquiring Covid vaccines, or providing hundred-million-dollar housing solutions for Barbadians.
    A simple check would have revealed that CoopEnergy has access to numerous highly qualified and experienced engineering, financial, accounting and management experts with extensive local backgrounds, as well as full support from massive international cooperative agencies that are designed exactly to provide such support.

    The editorial’s statement about “the large sums of about $100 million earmarked for the project raising concerns” is only possible out of complete lack of research into the present realities of the energy market.
    Annually, Barbados spends $ 1 BILLION ($1000 million) just on the fossil fuels that we purchase with foreign exchange, and which we then literally burn to power the country.

    A long term investment valued at 10% of that annual expense – that then results in an annual savings of even 5% of the annual foreign currency outflow for fossil fuel would be one of the best investment options available anywhere – except perhaps in the weapons industry.

    Then for the editorial to make conclusions about CoopEnergy’s capacity to turn the industry around – that are based solely on BAMC’s poor performance is 2025 – after our exclusion, and given the well documented workers-related issues that subsequently arose, can only be characterized as malicious.

    Finally the editorial makes repeated reference to the ‘failed MOU’, while the actual shareholders’ agreement, a contract signed between all the participating agencies, is the actual point of departure between CoopEnergy and BAMC. A simple search would have made this known.

    It is actually quite inconceivable that the Nation could editorialize such dogmatic conclusions as Minister Weir’s public statement for the cause of termination as factual, without have view of the actual Shareholders’ Agreement, or at least via a reference to interviews with the actual parties involved.

    Perhaps it may be that the Nation is relying a bit too much on artificial intelligence to compose their editorials rather than an effort to negatively influence public opinion against CoopEnergy. This is surprising, considering the accuracy and clarity of their front page article of Tuesday August 18.

    Trevor Browne

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