Puerto Rico’s Financial Oversight and Management Board (FOMB) announced that it’s filing a court motion to suspend all hearing and briefing deadlines for PREPA’s Restructuring Support Agreement. This agreement, intended to resolve the electric utitlity’s debt, would require a status report by May 15, 2020. See the full press release here.
On March 27, 2020, we hosted an online meeting with Caribbean leaders who updated us on the latest Coronavirus developments, and how the spread of the disease is impacting electricity markets across the region. To watch this complimentary webinar now, click here. Hear from leaders based in Trinidad, Puerto Rico, Barbados, and Jamaica as they address […]
Jamaica has started studying the potential for pumped hydro storage on its electric grid to supply the grid with energy in times of need, as announced by Prime Minister Holness. The project envisions pulling water from the Middlesex aquifer in St Ann parish and pumping the water to reservoirs at higher elevations. The water would […]
Startup company Lilac Solutions secured US$20 million in funding from Jeff Bezos, Michael Bloomberg, and Bill Gates for a lithium-extraction project in California’s Salton Sea geothermal area—one of the richest potential sources of geothermal energy in the world. If successful, an improved extraction technology would transform the site into a combined energy and lithium source. […]
Global wave and tidal energy production increased from less than 5GWh to 45GWh in just a decade, according to a report issued by Ocean Energy Systems. Several technologies have been deployed for open-sea testing, as international support for marine renewables continues to climb. Reducing emissions and increasing electricity production are helping drive the trend. Source […]
The Barbados Water Authority is seeking proposals for three PV plants for a total of 4.5 MW of generation capacity plus a 2 MW microturbine. The installations will power pumping stations. Bids can be submitted until March 31. This additional solar energy will contribute to the island’s goal of 29% renewable energy by 2029 and […]
In the first dialogue between Cuba and the EU, Cuba stressed the importance of the support of the EU in achieving energy independence. Given the intensification of the US blockade and its impact on access to fossil fuels, alongside Cuba’s commitment to combating climate change, renewable energy will be an important part of Cuba’s energy […]
New Fortress Energy began commercial operations of its gas-fired combined heat and power (CHP) plant at the Jamalco refinery in Halse Hall, Clarendon, and hailed the development as another milestone achievement in Jamaica’s transition to natural gas. “We are thrilled to announce the completion of the region’s first combined heat and power plant,” a company […]
Over the next two years, MPC Capital aims to raise USD 90 million from US-based impact investors, institutional investors and foundations. The money will be allocated to up to 15 renewable infrastructure projects in the Caribbean. MPC Capital made its first investment in the renewable energy sector in the Caribbean in 2016 and has since […]