CREF Market News - Page 70 of 90

Economists debate how hard Venezuelan economic storm will hit Cuba
August 2, 2016
Cuban reliance on Venezuelan crude oil is now being challenged, as the Latin American neighbor drops oil production below 2 million barrels per day (bpd). Cuba produces 50,000 bpd itself and has stockpiled a 60-day supply on the island; however, the Caribbean island will still have to cut fuel consumption by 28 percent in the […]
PV Energy equips public schools in Antigua and Barbuda with solar power
August 1, 2016
Public schools are the focus of a partnership between the Government of Antigua and Barbuda (GOAB) and UK-based clean energy provider, PV Energy Limited. A project provide 10 MW of solar energy to the twin islands will utilize the roofs of 50 schools, as well as other public buildings. Sun2roof installations will provide a reliable […]
Dominica to establish company to construct geothermal plant
July 28, 2016
The Government of Dominica has secured the US$46 million to establish a company that will build a 7 MW geothermal plant over a 2 year period. The company will act as a Special Purpose Vehicle (S.P.V) to finance the construction of the plant, which will sell power to DOMLEC – the Dominica power utility. Interest, […]
UKCIF funds to rehabilitate road networks in Antigua-Barbuda and Dominica
July 28, 2016
Plans to rehabilitate the road networks of Antigua and Barbuda, and Dominica are underway via funding from the United Kingdom Caribbean Infrastructure Partnership Fund (UKCIF). A grant for US$245,000 was approved by the Caribbean Development Bank (CDB), to conduct a feasibility study of of road networks in both countries. In Antigua and Barbuda this includes […]
CDB Board Approves Energy-saving Project in Antigua and Barbuda
July 26, 2016
A project aimed at reducing the consumption of fossil fuels in Antigua and Barbuda will be funded by the Caribbean Development Bank (CDB). The Street Light Retrofitting Project will be supported by CDB financing of USD 5.9 million and a contribution of USD 905,000 from the Government of Antigua and Barbuda and the Antigua Public […]
Dominica is CARICOM forerunner in renewable energy use, latest ECLAC report reveals
July 25, 2016
Outcomes from a report by the Economic Commission for Latin America and the Caribbean (ECLAC) show Dominica as the CARICOM member that consumes the largest portion of its energy from renewable sources. The 2008 global financial crisis, and its aftershocks, incentivized the Caribbean island to pursue sustainable energy strategies that reduce dependence on fossil fuels […]
St Kitts-Nevis making substantial advances on the energy front
July 22, 2016
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 […]
New wind farm in the cards for St Lucy
July 22, 2016
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 […]
T&T gov gets $300m loan from CAF
July 21, 2016
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 […]