According to the Ministry for Industry, Tourism and Commerce, El Hierro will become the first island in the world to be energy self-sufficient. This will be achieved through a €54 million project combining a greater than 11 megawatt wind farm and two hydroelectric projects. The closed-loop hybrid wind/hydro system, to be tested by the end of 2011, is expected to save approximately US$4M per year (calculated with January 2011 oil prices) currently spent on about 40,000 barrels of crude oil imported annually, and will make the island completely self sufficient for electrical energy.