Caribbean Finance

OfReg and CUC prepare for auction of renewable power projects in Cayman

March 8, 2022

Utility regulator, OfReg, is about to begin a series of auctions for renewable power projects. Caribbean Utilities Company (CUC), the national utility, plans to be heavily involved in the bidding and hopes to build as many as six solar farms on the island to cut carbon emissions and the cost of electricity. Cayman’s national target […]

The Caribbean Community Climate Change Centre Wins Energy Globe Award

February 15, 2022

The Caribbean Community Climate Change Centre (CCCCC) won the Energy Globe Award at the end of 2021 for its work in transforming the water sector in Barbados. Source: Caribbean National Weekly

IFC Adds Eastern Caribbean Central Bank to its Sustainable Banking and Financing Network

February 15, 2022

The International Finance Corporation (IFC) added the Eastern Caribbean Central Bank (ECCB) as a new member of the IFC-facilitated Sustainable Banking and Finance Network (SBFN). The ECCB is the first organization in the SBFN from the English-speaking Caribbean. Source: Market Screener

U.S. Commits USD 12 Billion to Puerto Rico’s Energy Sector

February 2, 2022

The Biden Administration commits USD 12 billion in federal aid for Puerto Rico’s energy sector to strengthen the outdated electric grid. The US Departments of Energy, Homeland Security, and Housing and Urban Development will sign an agreement to ensure the alignment of federal investments with local policies – with all eyes on the goal of […]

STOA Invests in Phase II of Wind Farm Expansion in the Dominican Republic

January 17, 2022

Grupo Energético 23 and STOA S.A. (STOA) partner on a deal for STOA to invest in the expansion of the Poseidón Energía Renovable, S.A. 100MW Los Guzmancito wind farm project in the Dominican Republic. The first phase, commissioned in 2019, consisted of 16 Vestas turbines. The new investment by STOA includes a USD 128 million […]

BVIEC Evaluates 19 Applications for Paraquita Bay Microgrid Project

January 17, 2022

The British Virgin Islands Electricity Corporation (BVIEC) received 19 applications from companies looking to pre-qualify for the proposal to develop a microgrid in Paraquita Bay. Submissions qualify the companies for consideration by the BVIEC to bid on future engineering, procurement, and construction services. The project will be funded with a USD 600 thousand grant provided […]

Banks look for mandates to finance Caribbean renewable energy projects

January 4, 2022

Caribbean commercial and investment banks, once hesitant, are now moving aggressively to finance clean energy projects across the region. Source: Jamaica Observer