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Substantial foreign investment is needed over the course of the next decade to revitalize, diversify, and strengthen Cuba’s energy sector.
Investment in renewables is a cornerstone of the Government’s strategy – better known as Cuba’s “energy revolution” – and an ambitious target of 24% from renewable sources by 2030 is the stated objective. Energy from traditional sources, including gas, and updating the Cuban grid will also require substantial long-term investment.
Against this backdrop IJ Global, the infrastructure division of Euromoney Institutional Investor PLC, and New Energy Events, the host of the annual Caribbean Renewable Energy Forum (CREF), will launch the 1st Cuba Energy & Infrastructure Finance Summit in Havana in September 2016.
As the international private sector ramps up its engagement with Cuba, and as U.S. sanctions ease, the Forum will gather senior Cuban officials and leading international investors to assess the current state of Cuban energy infrastructure, delineate government objectives, and explore opportunities and obstacles to international investment.
The Forum is co-hosted by the Cuban Center for Renewable Energy (CETER) and features the confirmed participation of the Ministry of Energy & Mines and the sugar industry (AZCUBA).
CREF was one of, if not the best, conference I attended last year. Lynn Tabernacki, Managing Director, Renewable Energy & Sustainable Development, OPIC
A new solar power facility will be constructed adjacent to the LF Wade International Airport in Bermuda. The Government of Bermuda has issued an open call to pre-qualify companies seeking to take part in the tender for a two-phase project; the first phase will consist of 6 MW of power and the second phase will […]
The IFC is confident that renewable energy investment is attractive regardless of this year’s drop in oil prices. The International Financial Corporation estimates that a country can absorb between 25 to 35 percent of renewable energy before intermittent nature of renewable energy disrupts the base-load capacity of any generation system. The IFC has partially funded […]
The Caribbean Development Bank (CDB) will provide US$768,000 in funding to address damage to Caribbean road networks, caused by natural hazards. Financing will enable a study on approaches for constructing road infrastructures that are more resilient to the effects of climate change. CDB director of projects, Daniel Best, noted that agencies of the bank’s borrowing […]