October 2024 - Page 4 of 5 - New Energy Events

Dominica is set to complete its first geothermal power plant by December 2025
October 10, 2024
Dominica is on track to complete its first geothermal power plant by December 2025, backed by a US$38.9 million contract with India’s Kalpataru Projects. Source: Caribbean National Weekly
Grenada advances renewable energy with licensing of eight new solar power producers
October 10, 2024
Grenada’s Public Utilities Regulatory Commission (PURC) has granted licenses to eight investors under its Small-Scale Independent Power Producers (SSIPP) program, launched in 2021 to enhance the country’s energy diversification and reduce fossil fuel dependence. This initiative allows local producers to own solar plants and sell renewable energy to GRENLEC. Source: Caribbean Loop News
St. Kitts and Nevis commissions 6 MW rental power plant for grid stability amid infrastructure upgrades
October 10, 2024
The government of St. Kitts and Nevis has commissioned a six-megawatt rental power plant to stabilize the national grid during critical infrastructure upgrades by the St Kitts Electricity Company (SKELEC). This initiative is part of a larger plan that includes securing US$40 million in concessional funding from the Saudi Fund for Development for an 18MW […]
Barbados advances renewable energy goals with the Energy Supply Bill
October 10, 2024
The Mia Mottley administration has made significant progress toward its renewable energy goals with the passage of the Energy Supply Bill, which aims to transform Barbados’ energy sector. The legislation addresses deficiencies in the Electric Light and Power Act, fostering a sustainable and competitive market while supporting the target of 100% renewable energy by 2030. […]
IDB Invest structures US$2.4 billion facility to support Chile’s power generation sector, marking record mobilization of private resources
October 10, 2024
IDB Invest had structured a US$2.4 billion facility to support Chile’s power generation sector. This initiative represents the largest mobilization of private resources in IDB Invest’s history and aims to ensure financial stability for power companies and a controlled transition to market prices, benefiting vulnerable consumers. Source: IDB Invest
USAID launches five-year program to protect marine biodiversity in 13 Caribbean nations
October 10, 2024
USAID launched a five-year program aimed at reducing threats to marine biodiversity in 13 Caribbean countries. The project, known as the USAID Caribbean Sustainable Ecosystems Activity, is based in Santo Domingo and focuses on managing marine protected areas, improving solid waste management, and enhancing the sustainability of fisheries. The initiative works with local communities and […]
Ecuador and Japan sign US$43 million loan agreement for a geothermal project
October 10, 2024
Ecuador and Japan signed a US$43 million loan agreement for the Chachimbiro geothermal project in Imbabura, Ecuador, which aims to achieve 50 MW of installed capacity. Source: ThinkGeoEnergy
Mexico aims for 45% renewable energy generation by 2030
October 10, 2024
Mexico plans to achieve 45% renewable energy generation by 2030 and will limit crude oil production, prioritizing domestic consumption. The government aims to enhance access to solar PV technology and strengthen refineries to boost national production of petrochemicals and fertilizers Source: Enerdata
Costa Rica’s ICE plans to develop largest solar farm in the country
October 10, 2024
Costa Rica’s Instituto Costarricense de Electricidad (ICE) has announced plans to build a 66 MW solar farm in Guanacaste, the country’s largest. An investment of around US$80 million has been allocated for the feasibility study of the solar project, which is expected to generate approximately 139.49 GWh annually. Source: Renewables Now