Australian firm MEO Australia will join Canadian giant Sherritt International as the only foreign petroleum companies operating in Cuba. MEO Australia has signed a Production Sharing Contract (PSC) with Union Cuba Petroleo (CUPET) for exploration of “Block 9” in the newly liberalized Caribbean country. The Australian firm released a report saying that they have studied […]
The Ministers in Jamaica are enthusiastic about the acquisition of Blue Mountain Energy (BMR) by Virgin Group CEO Sir Richard Branson. Minister of science, energy and technology, Dr. Andrew Wheatley, supports the purchase as “the kinds of investments that can lead to even bigger and better things”. Minister of finance and public service, Audley Shaw, […]
The IFC is confident that renewable energy investment is attractive regardless of this year’s drop in oil prices. The International Financial Corporation estimates that a country can absorb between 25 to 35 percent of renewable energy before intermittent nature of renewable energy disrupts the base-load capacity of any generation system. The IFC has partially funded […]
Cuba is open for business, but it’s complicated. Last week, New Energy Events hosted a webinar, Opening the Doors to Cuba’s Energy Revolution: An Introduction for Global Investors. The webinar featured four experts on the Cuban market who uncovered some of the complexity, sharing what it takes to become an investor in a market that […]
The organizers of the Cuba Energy Investment Summit are pleased to announce a roster of over 35 world-class companies confirmed to participate in the investment “mission” to Havana in early September. The roster of companies includes household names such as InterEnergy, GE, APR Energy, IC Power, and Mitsubishi. The companies will meet a number of key […]
As momentum for CREF builds, we are pleased to announce that CREF – at two months out – features confirmed participation from 20 Caribbean countries. The turnout from regional governments and utilities is particularly strong and reflects the emphasis laid at CREF on addressing the critical issues around the commercialization and implementation of alternative sources […]
The organizers of CREF are pleased to announce that Julio A. Rhymer, the new CEO & Executive Director of the Water and Power Authority of the US Virgin Islands (VIWAPA) has confirmed his participation in CREF 2016. Mr. Rhymer will join an agenda which already features Kelly Tomblin, CEO of JPS, Peter Williams, CEO of […]
An Australian company, Meo Australia, may have found 8 billion barrels of oil in Cuba – and then again it may not have. Found in Motembo, the “potential” resource could sustain the country for roughly 7 years, but would not be available for extraction until 2018. It may be politically strategic, however, to begin receiving […]
Richard Branson has purchased BMR Jamaica Wind Ltd and its United States-based parent BMR Energy. Priced at US$89.9 million, the project involves 11 3.3 MW wind turbines that will add power to Jamaica’s national grid, sold to the utility at US$0.129 per KWh. Branson, owner of the Virgin Group, said that his decision was not […]