Sustainable resort in Dominican Republic receives USD119.5 million in financing

December 27, 2018

The International Finance Corporation (IFC), a World Bank Group member, and IDB Invest have announced their commitment to provide USD 119.5 million to Cisneros Real Estate for a new sustainable resort in the Dominican Republic. This investment will strengthen the country’s appeal for investments, and build a brand as an eco-friendly destination. This development is […]

Jamaica completes offshore LNG terminal

December 26, 2018

The natural gas supplier New Fortress Energy has finished construction for its new floating regasification vessel, the Golar Freeze, off the Old Harbour in Jamaica. This deal is expected to generate over USD22 million for the vessel’s owner, Golar LNG Partners. New Fortress is planning a USD 100 million initial public offering, though the details […]

Caribbean to pilot UN geothermal classification scheme

December 22, 2018

This classification system is designed to encourage investment in geothermal projects. The classification scheme was discussed at a workshop recently held in St. Lucia by the International Renewable Energy Agency (IRENA), the International Geothermal Association and the World Bank. The scheme, the ‘United Nations Framework Classification (UNFC) to Geothermal Energy Resources and Reserves’ is a […]

El Salvador opened tender for renewable energy project

December 21, 2018

El Salvador has received eighteen proposals, twelve solar PV projects and six biogas, for a 28MW renewable energy project. The National Energy Council of El Salvador, and the electricity distributor DELSUR received this Wednesday the proposals. The call for tenders had been opened in May. Representatives of SIGET, a government agency overlooking electricity and telecommunications […]

Barbados and Trinidad and Tobago discuss energy cooperation agreement

December 21, 2018

Trinidad and Tobago and Barbados have started discussions to explore a “potential partnership” on energy related matters. High level discussions by the countries’ ministers of energy were recently held, according to Trinidad’s Ministry of Energy and Energy Related Industries. Energy Minister Franklin Khan, and his Barbados counterpart Wilfred Abrahams discussed “mutual cooperation with respect to […]

Feasibility study planned for geothermal project in Ecuador

December 20, 2018

A feasibility study for a geothermal project has been undertaken in Ecuador. The CELEC power utility is planning further drilling, with financing from the Japanese Government.  The site Chachimbiro is surrounded by a volcano and hot springs, a natural environment apt for geothermal energy development. This energy source would be consistent throughout the year. In the […]

Eastern Caribbean to receive financing for geothermal

December 20, 2018

The Inter-American Development Bank (IDB) and the Caribbean Development Bank (CDB) will provide over USD 85 million for geothermal development in the Eastern Caribbean. This latest financing is an expansion of the Sustainable Energy Facility programme, under which the two lenders provided a USD 71.5 million loan and grant package for the development of renewable […]

New Legislation: Green Light for Electric Cooperatives in Puerto Rico

December 18, 2018

In December 2018 a bipartisan bill authorizing the establishment of electric cooperatives was passed by the legislature. The organizers of PR-GRID are pleased to announce a new session which will explore the implications of the law for municipalities and for the broader Puerto Rican grid. The session features the participation of Jaime Cuevas, one of […]

Eastern Caribbean geothermal program expands to $86.5m

December 18, 2018

The Sustainable Energy Facility for the Eastern Caribbean (SEF-Expanded) is designed to reduce the financial, technical, and institutional barriers to geothermal energy development in five Eastern Caribbean nations: Dominica, Grenada, St. Kitts and Nevis, ST. Lucia, and St. Vincent and the Grenadines.  Released in 2015, the SEF originally totalled $71.5m, but a recent injection of […]