The deal will expand energy-saving street lamps; as well as, improve the efficiency of the power system in the City of Georgetown and the surrounding areas by enhancing substation and distribution equipment as well as establishing a PV system and an energy management system at the CARICOM Secretariat.
Government plans to revitalize its utility sector with greater inclusion of renewable energy including solar and wind power.
The Inter-American Development Bank reports that climate financing increases more than 20 percent from the previous year by the world’s six largest multilateral development banks.
CEOs and energy leaders from Caribbean utilities recently met for the CARILEC Chief Executive Officers and Leadership Conference.
Across the Caribbean, three innovative finance approaches may play a role in rebuilding infrastructure to be more efficient and resilient by embracing clean energy technologies.
A loan of $64 million was awarded. The facility will deliver electricity to JPS at a price of $85/MWh over 20 years.
Puerto Rico is pursuing large-scale solar as a part of its reconstruction of its energy infrastructure.
This loan is intended to invest in the energy sector, particularly in the construction of micro-grids and prioritizing renewable technologies.
Eight Rivers Energy Company Limited has commenced work on a new 37-megawatt solar energy plant, slated for completion by late 2018 or early 2019.
Bermuda General Agency Ltd. has signed an agreement with Seabased AB to purchase two 20 MW wave energy parks in the Caribbean.
GreenTech Solar has won a contract to provide 10MW of renewable power to Antigua and Barbuda by retroactively fitting government buildings, hospitals, schools and car parks.
Two renewable energy project developers in the Dominican Republic advanced financing plans this week, securing debt for solar and wind-powered projects on the Caribbean island.
Power Ledger is working with factories and regulators to help companies finance microgrid resources such as solar and battery storage using its blockchain technology.
Despite dealing with natural disasters and energy poverty, Haiti has optimistically made hard commitments to create a renewable energy economy. In September 2017, the Haitian Parliament eliminated import tariffs and duties on solar equipment and the country is positioned well for solar.
A subsidiary of Taiwanese solar cell and module maker Neo Solar Power Corp has secured long-term financing of US$38 million for its Monte Plata solar project in the Dominican Republic.
Work has advanced toward the full operationalisation of the Caribbean Centre for Renewable Energy and Energy Efficiency by the middle of this year. This was one of the key outcomes of the special meeting of the Council for Trade and Economic Development (COTED) on Energy.