Caye Caulker island will be connected to Belize’s national electricity grid using submarine cables. This system will be allow the island to have access to stable electricity from renewable sources. The project will be financed by the Caribbean Development Bank through a USD 6.8 million loan, which was approved yesterday by the CDB’s Board of […]
Caribbean Development Bank officials have described Jamaica’s Junior Market as a model for financing Blue Economy. Jamaica’s Junior Stock Exchange, said Dr. Justin Ram, Director of Economics at the CDB, is a “blueprint” for countries in the Caribbean wishing to support their blue economy by raising capital through the stock market. A blended finance approach, […]
The geothermal project ‘Mariposa’ in Chile’s Maule region is expected to enter into service in 2024. Energy output from the geothermal plant will be incorporated into the national grid. The 50MW project is a joint venture led by the Energy Development Corporation and Alterra, two established companies in the renewable energy field. A further 50MW […]
The Caribbean Climate-Smart Accelerator, formed in response to the 2017 hurricane season, is an entrepreneurial engine, setting an ambitious agenda to create the world’s first “climate-smart zone”. The coalition, which includes 26 countries and over 40 private and public sector partners, seeks to catalyze transformative investments and partnerships across priority areas including clean energy, resilience, […]
A new World Bank report examines the importance of tackling marine pollution to ensure the Caribbean region is resilient to climate change. The report, “Marine Pollution in the Caribbean: Not a Minute to Waste”, calls for urgent action to restore damaged ecosystems and protect the Caribbean’s marine resources. The ocean is a key source of […]
Geothermal energy is expanding in Mexico, with two announcements this week regarding the drilling of two wells for geothermal energy, and the upcoming development of a database on geothermal water resources in the country. CFE, Mexico’s state power utility announced a tender for the drilling of two wells in the Los Azufres geothermal project. These […]
Dominican Republic’s National Commission for Energy (CNE) has authorised the grant of twelve provisional concessions for new renewable energy projects totaling 874 MW. Two projects are focused on wind energy, eight will produce electricity from solar energy and two are thermal energy projects. Another five applications for the development of further renewable energy projects are […]
The UK Government’s Commonwealth Marine Programme completed a three-week capacity building programme in Antigua and Barbuda last month. The programme aimed to support a safer maritime trade and the growth of Antigua and Barbuda’s Blue Economy. In attendance were representatives from Antigua and Barbuda’s Department of Maritime Affairs and External Relations, the Survey and Mapping […]
President of the U.S. Government0s development finance organisation, OPIC, concludes successful visit to the Caribbean to discuss infrastructure, energy, water, and women’s economic empowerment . “By partnering with our Caribbean neighbors to advance priorities like expanding access to low-cost energy, supporting critical infrastructure, and empowering women, OPIC is working to more effectively leverage private sector […]