After half a century of isolation and dependence on foreign oil, Cuba is building an energy portfolio derived from the wind, sun and sugar. Hive Energy has secured a contract with the island nation to deliver 50 MW of solar power.
Upon completion, the project is expected to generate up to 93 GWh of electricity annually. While only 4% of Cuban electricity came from renewable sources in 2015, the country has plans to spend US$3.5 billion in the coming years to increase it supply of renewable energy. By 202 the island plans to deliver over 20% utilization of renewable energy and drive down the cost of electricity from its 2013 rates of $21.10kW to $17.90kW.
Giles Redpath, CEO Hive Energy; “Hive Energy strives to deliver solar power to the frontiers of new markets. We are excited and delighted to be working with Cuba’s UNE to support their plans for a future powered by renewable energy. Delivering the first utility scale solar project in the Caribbean is just one step towards the island achieving this goal”.