RESEMBID funds seven sustainable development projects with grants totaling USD 3 million

March 17, 2022

The Caribbean Overseas Countries and Territories (OCTs) Resilience, Sustainable Energy, and Marine Biodiversity Programme (RESEMBID) are funding seven sustainable development projects in the Caribbean, with grants totaling $3 million. They awarded grants to the Cayman Islands, Anguilla, St. Maarten, CARILEC, and ACS. Source: Caribbean Loop News

Wigton Windfarm Limited acquires 21% stake in Flash Motors Company Limited

March 17, 2022

Wigton Windfarm Limited, the energy facility in Jamaica, acquired a 21% stake in Flash, a holding company registered in St. Lucia. The deal also grants them an equivalent share in Flash’s wholly-owned subsidiary Flash Motors Company Limited. Flash Motors plans to sell electric vehicles in Jamaica, Trinidad & Tobago, and Guyana.  Source: Jamaica Gleaner 

Barbados Prime Minister defends decision to explore for oil and gas

March 17, 2022

Barbados Prime Minister Mia Mottley defended the decision to explore for oil and gas along their maritime border with Trinidad and Tobago. According to Mottley, describing it as an issue of equity, fossil fuels have the potential to finance Barbados’s bid for net zero. Source: Argus Media

CAF approves two loans of USD 600 million to Colombia to support climate action measures

March 15, 2022

CAF authorizes two loans of $600 million to Colombia to support climate action measures. In addition, CAF approved external financing with a sovereign guarantee of up to $1.2 billion to finance investment initiatives that will fulfill the Sustainable Development Goals of Colombia. Source: World Today News

El Salvador will expand its installed geothermal power energy generation to 300 MW

March 15, 2022

El Salvador will expand its installed geothermal power energy generation from 204 MW to 300 MW with the construction of new plants in Chinameca, San Vicente and Volcán de Conchagua. Source: Think Geo Energy 

CAF announces shareholder approval for a capital increase of USD 7 billion

March 15, 2022

CAF Development Bank of Latin America announced the approval by shareholders for a capital increase of $7 billion, which will double the organization’s portfolio. The shareholders also approved the incorporation of the Dominican Republic and El Salvador as full members. Source: CAF

Engie and Posco sign agreement to explore green hydrogen development opportunities

March 15, 2022

Engie, the global low-carbon energy company, and Posco, the South Korean steel manufacturer, signed an agreement to explore the joint development opportunities for green hydrogen and related infrastructure in the Middle East, Australia, and Latin America. Source: Trade Arabia 

H2 Peru and Peruvian Ministry of Energy and Mining sign agreement to promote green hydrogen

March 8, 2022

The Peruvian Ministry of Energy and Mining and domestic hydrogen association, H2 Peru, signed an agreement to promote green hydrogen. The objective is to create a national green hydrogen strategy for Peru. Source: Renewables Now

OfReg and CUC prepare for auction of renewable power projects in Cayman

March 8, 2022

Utility regulator, OfReg, is about to begin a series of auctions for renewable power projects. Caribbean Utilities Company (CUC), the national utility, plans to be heavily involved in the bidding and hopes to build as many as six solar farms on the island to cut carbon emissions and the cost of electricity. Cayman’s national target […]