"This is 176 percent of Belco's additional required generation capacity," Mr Madeiros said.

"Not only will this project eliminate the need for an additional fossil fuel electricity plant to be built, but it will also be producing clean renewable energy, resulting in a positive impact on our environment."

The facility would be built on what is known as "the finger," a 56-acre stretch of land that Mr Madeiros said is currently unused. A total of 83,000 state-of-the-art solar panels would be erected on the site at an estimated cost of between $200 million and $300 million.

Mr Madeiros said that other companies have suggested similar projects, but the Sol Invictus proposal would be owned and operated by Bermudians, and use more efficient solar panels to produce more electricity.

The proposal would also include a battery system, which would allow electricity to be released into the energy grid at a steady rate.

"When clouds cover the solar panels, their energy production temporarily decreases," he said. "However, the battery bank will keep the energy output constant to service Bermuda's energy demands.

"As and when the energy stored in the battery decreases to a preset threshold, it will automatically send a message instructing Belco to start an additional energy so that energy is available as needed."

He explained that he is currently in talks with both Government and Belco about the proposal, and believed that the project could benefit all.

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