CARIF Market News

5 ways to decarbonize national oil companies in Latin America and the Caribbean

By: Paola Carvajal, Javier García, Carlos Sucre and Christiaan Gischler, IDB The global hydrocarbon industry has been a long-time pillar of energy systems supplying in 2018 around 54% of global primary energy. This supply comes at a high cost in terms of carbon emissions as it accounted for 56% of the planet’s carbon dioxide emissions […]

The economics of energy transformation zeroes in on infrastructure in Antigua and Barbuda

Prime minister and minister of finance and corporate governance, Gaston Browne has undertaken energy transformation focusing on renewable energy, climate resilience, and a development fund to power Antigua and Barbuda. To facilitate such access, the government will complete the $55 million new airport on Barbuda in 2020. The estimated value of all the projects, which […]

Dominica prioritizes strengthening infrastructure with Citizenship-by-Investment funds

Dominica’s CBI Program, which enables foreign investors and their families to become citizens of the nation once investing in either a government fund has  been injected into important sectors in Dominica, from healthcare and education to tourism and infrastructure development. The Program also supports the construction of over 5,000 climate-resilient homes for citizens impacted by Hurricane Maria. […]

MPC Capital Raises $100 Million USD to build green energy plants in Colombia, Jamaica, El Salvador

MPC Capital AG  has launched a new entity named “MPC Energy Solutions” after raising $100 million. The entity has listed 5 projects under development in Colombia, El Salvador and Jamaica anticipating construction will start in the second half of this year and begin energy production at the end of 2022.   Source

Climate change puts pressure on failing Caribbean water supplies

While most people outside of rural mountainous areas in the Caribbean are connected to the public water supply, they frequently face outdated infrastructure in need of repair, resulting in major losses of drinking water. Although the region enjoys relatively high standards of living, with most countries defined by the UN as “upper-middle income.” This excludes them […]

COVID-19 and climate change prompt an energy rethink in Trinidad and Tobago

The crash of global energy markets amid the COVID-19 pandemic and the growing threat of climate change are providing an impetus for a reevaluation of Trinidad and Tobago’s energy security and a concerted diversification of the nation’s energy mix.   Source

Abu Dhabi Fund to start 2021 with project allocations worth $169 million, earmarks $50 million for Caribbean

Abu Dhabi Fund for Development, one of the UAE’s leading financial entities, continued to advance its sustainable development agenda within the country and abroad through clean-energy initiatives. In 2021, approximately $50 million is earmarked with an aim to deliver renewable energy projects across 16 Caribbean Island nations.   Source

Puerto Rico awaits first procurements to add 3.75 GW solar, 1.5 GW storage

The Puerto Rico Energy Bureau ordered the utility PREPA to issue six procurements in the next 30 months, totaling 3.75 GW of solar and 1.5 GW of four-hour storage, or their equivalents.   Source

InterEnergy acquires 34-MW wind farm plus pipeline in Dominican Republic

Energy solutions provider InterEnergy Group announced the acquisition of the 34-MW Matafongo onshore wind farm plus an under-development project pipeline in the Dominican Republic.   Source