The Caribbean Development Bank has announced that it will provide USD$16 million in funding to DOMLEC to assist with the restoration of electricity generation services.
Tag: Project Financing
Arundo donax renewable energy project receives funding
The Caribbean Community Climate Change Centre (CCCCC) is celebrating the Caribbean’s first project preparation facility (PPF) grant with the approval of US$694,000 by the Green Climate Fund (GCF) for the Arundo donax Renewable Energy Project in Belize. The grant will…
The role of geothermal in the Caribbean’s energy future
The Caribbean is one of the world’s largest untapped sources of renewable energy, with huge solar, wind, geothermal and marine energy potential. Despite this, most Caribbean nations still use imported diesel or oil to generate more than 90% of their…
Ormat adds 15 MW of geothermal capacity
Ormat Technologies recently said it agreed to acquire part of a geothermal power plant and exploration options in Guadeloupe Island in the Caribbean. The company said it will gradually purchase 85 percent of Geothermie Bouillante SA (GB) for approximately $56…
Ground broken for largest solar plant in the Caribbean
While Jamaica continues to lead the rest of the world in energy diversification, Minister of Science, Energy and Technology Dr Andrew Wheatley says that his Government does not intend to become complacent but will intensify its efforts to reduce the…
Caribbean leaders to create world’s first “climate-smart zone”
Recent hurricanes have left unprecedented devastation across the Caribbean and it is a traumatic time for all those who live in the region. Whole communities and towns have been decimated, and the global community needs to act quickly and give…
Geothermal Risk Mitigation Programme launched for the Eastern Caribbean
The Commissioner in charge of International Cooperation and Development, Neven Mimica and the President of the Caribbean Development Bank, Dr. Wm. Warren Smith, announced the formalisation of an EU grant contribution to the Geothermal Risk Mitigation Programme for the Eastern…
New funds from CDB to advance grid modernization & energy storage
The Caribbean Development Bank (CDB) has approved a US$350,000 grant to assist utilities and relevant stakeholders across the region to develop, plan and design energy storage and grid modernisation solutions, which could accelerate the Caribbean’s shift to clean energy. The…
CREF Project Award Winners
The Caribbean Renewable Energy Forum (CREF), the largest annual gathering of the Caribbean renewable energy market, today announced seven projects as recipients of its first annual CREF Project Awards. The awards represent a wide spectrum of size and technologies and are given…
Caribbean Regional Energy Efficiency Pilot Financing Facility
Belize will see the Caribbean’s first Energy Efficiency Financing Facility. The Caribbean Community Climate Change Centre (CCCCC/5Cs) and the Development Finance Corporation (DFC) will be partnering to launch the Facility for investments in Energy Efficiency (EE) and Renewable Energy. The…
First offshore windfarm awarded in the Caribbean
The US Trade and Development Agency (USTDA) has awarded a grant to the Petroleum Corporation of Jamaica (PCJ) supporting the development of an offshore windfarm in Jamaica. The feasibility study for the project will evaluate the viability of installing an…
Caribbean Investment Forum puts resilience into sharp focus
Urgent investment into infrastructure more resilient to climate change is needed to allow Caribbean island nations to achieve their clean energy, sustainable development plans, a high-level meeting of representatives from Caribbean governments, development partners and regional organizations in Saint Lucia…
Research into Bottom-up Approaches to Assess Large Public Investments
The question of how scaling up public investment could affect fiscal and debt sustainability is key for numerous countries needing to fill infrastructure gaps and build resilience. A new paper by the IMF, proposes a bottom-up approach to assess large…
Funds secured for new Jamaica’s new LED streetlight system
The Board of Directors of the Caribbean Development Bank (CDB) has approved funding of US$25 million to replace existing streetlights in Jamaica with high efficiency light-emitting diode (LED) lamps. The funds are being provided to the Jamaica Public Service Company…
CDB approves funds to support the energy transformation in St. Vincent and the Grenadines
The Board of Directors of the Caribbean Development Bank (CDB) approved a blended financing package of US$4.2 million loan and the equivalent of US$1 million in grant resources to further support the transformation of the energy sector in St. Vincent…
Jamaica Gets First Grant Under US Clean Energy Finance Facility
The United States Agency for International Development (USAID) has awarded the first grant through the Clean Energy Finance Facility for the Caribbean and Central America (CEFF-CCA), to help develop a 37 megawatt solar farm in Westmoreland. CEFF-CCA will provide support…
