Small-scale renewable energy projects are crucial to meeting the goal of universal access to electricity and clean cooking facilities by 2030, but too many investors are relying on utility scale projects because of the lower risk. Traditional climate financing is not working a decentralized projects are “just not bankable”, says Neha Rai, senior researcher at […]
In Nicaragua, the IDB will invest in a project for the exploration and certification of geothermal reserves. The development bank stated the purpose of the project as promotion of renewable energy alternatives and foreign investment in the country. Public and private partnerships are expected to result from this endeavor to consolidate the renewable energy sector; […]
St. Kitts and Nevis is taking strides to become the “first green country in the world”, said Prime Minister Dr. Timothy Harris at a recent geothermal forum organized by OECS and CARICOM. A power purchase agreement (PPA) has been completed and the Ministry of energy expects to have 5 MW of power being generated by […]
Despite initial setbacks, a new 12 MW wind farm will soon begin construction in St. Lucia. Although the grid can presently accommodate 45 MW and the Renewable Energy Rider (RER) program has not reached full capacity, progress is slow as feasibility studies are carried out. Barbados Light & Power Company (BL&P) will construct the wind […]
The South Korea-based Green Climate Fund approved a loan for a large-scale PV project in Northern Chile. The site will have an initial capacity of 143 MW, though future expansion could put total capacity at 250MW. Project implementation will be done by Sonnedix, a US-based company. While Chile’s government has taken measures to attract renewable […]
As part of a plan to bolster tax revenue and cushion reductions of subsidies, the Development Bank of Latin America or Corporacion Andina de Fomento (CAF) will provide a grant of US$300 million to Trinidad and Tobago. Falling energy prices have had a negative impact on the country’s fiscal balance and the “Support Programme […]
A downturn in renewables investment in 2016 may not be viewed negatively, according to Abraham Louw, associate for energy economics at Bloomberg New Energy Finance (BNEF). Investment declined in many regions including China, the Middle East, Africa, and much of the Americas, but record financing in 2015 may have led to a “hangover” in 2016. […]
As sanctions from the former U.S. embargo lift, Cuba has high hopes for trade and information sharing with India. Sugar is one of Cuba’s key commodities and a partnership with India could lead to the modernization of some of the 160 sugar mills that were in operation before the embargo. Indian Prime Minister Narendra Modi will […]
An ongoing partnership between Siemens AG and the Cuba will grow further with a new plan to modernize the energy infrastructure of the country. A Memorandum of Understanding (MoU) between the German company and the Unión Eléctrica (UNE) gives Siemens the opportunity to work on projects in the field of of power generation, transmission and […]