Latin America and the Caribbean could see a US$1 trillion windfall in energy and infrastructure investments over the next five years, according to a senior U.S. Treasury Department official. It is expected that a portion of that funding may flow through the América Crece program, launched in 2018 to address myriad barriers to infrastructure development […]
The Prime Minister of Jamaica, The Most Honourable Andrew Michael Holness, ON, MP, has confirmed he will participate in the opening keynote session at 4th Caribbean Infrastructure Forum (CARIF). Jamaica has ambitious plans for investment in infrastructure, not least in the energy sector where the PM has mandated 50% renewable penetration by 2030. The Prime […]
The Central American Bank for Economic Integration (CABEI) has approved a US$550 million loan to the government of Costa Rica toward development of an electric passenger train for the Great Metropolitan Area (GAM), running from Cartago to Alajuela. The estimated US$1.3 billion total needed for infrastructure and equipment will be funded via a PPP that […]
A new report from the International Renewable Energy Agency (IRENA) indicates that Latin America and the Caribbean could grow their installed solar capacity by a factor of 40 in the next 30 years. By 2050, solar PV would be the second-largest power source behind wind, with the potential to employ over 18 million people. An […]
Mainstream Renewable Power has raised US$580 million to fund phase-one construction on what will eventually be its 1.3 gigawatt “Andes Renovables” wind and solar power plant in Chile—one of the largest in Latin America. Financing was provided by a consortium of six banks and is one of the region’s largest renewable energy debt financing deals […]
Finance is flowing toward climate mitigation projects at record levels, according to a Climate Policy Initiative report. Among recent multilateral investments: the approval of US$800 million from the New Development Bank for renewable energy projects in India and Brazil, and more than US$100 million in financing from the European Investment Bank (EIB) for renewable energy […]
Puerto Rico is seeking a P3 partner to develop a generation facility in its northern region. The Puerto Rico Public-Private Partnerships Authority (PRPPA) and the Puerto Rico Electric Power Authority (PREPA) issued an RFQ seeking a private partner to develop, finance, construct, and operate the facility. It would be located adjacent to the existing Palo […]
NuStar Energy has finalized the US$250-million sale of its oil storage terminal on Saint Eustatius to Prostar Capital. NuStar President Brad Barron said that proceeds from the sale, which marks the company’s exit from the Caribbean market, would be redeployed to its core businesses in North America. The terminal’s 14-million-barrel storage capacity includes crude oil, […]
Major redevelopment is coming to Prince George Wharf, with the completion of a 25-year port operation and lease agreement between the government of the Bahamas and the Nassau Cruise Port consortium. The consortium, which includes Global Ports Holding, the Bahamian Investment Fund, and the Yes Foundation, will invest up to US$250 million in the 12-month […]