CARIF Market News - Page 16 of 28

Abu Dhabi Fund to start 2021 with project allocations worth $169 million, earmarks $50 million for Caribbean
January 25, 2021
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
January 20, 2021
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
January 12, 2021
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
IDB Report: Infrastructure crucial for The Bahamas and Caribbean future growth
December 22, 2020
Institutional reforms and investments in infrastructure will be key to foster economic recovery in The Bahamas and the Caribbean region, according to a new report by the Inter-American Development Bank, which warns of challenging times even as the pandemic is expected to subside in 2021. Source
CDB, IDB sign US$50 million loan for COVID-19 response in the OECS
December 22, 2020
The Caribbean Development Bank (CDB) and the Inter-American Development Bank (IDB) today signed a US$50 million loan agreement to support COVID-19 response projects in the Organisation of Eastern Caribbean States (OECS) Member States. Source
Government of St. Kitts and Nevis and Leclanché break ground on Caribbean’s largest solar generation and storage system
December 14, 2020
The Government of St. Kitts and Nevis, the state-owned St. Kitts Electric Company and Switzerland’s Leclanché SA have broken ground on a landmark solar generation and storage project that will provide between 30-35% of St. Kitts baseload energy needs for the next 20-25 years while reducing carbon dioxide emissions by more than 740,000 metric tons. […]
World Bank provides funds for agriculture resiliency in Haiti, flood risk management in Guyana
December 10, 2020
The World Bank has approved more than US$33 million for two Caribbean Community (Caricom) countries to further develop the agricultural sector and flood risk management. Source
Renewables could help Caribbean islands become more hurricane-resilient
December 9, 2020
Solar panels connected to microgrids can come back online quickly after a storm, says Kaitlyn Bunker from the nonprofit Rocky Mountain Institute. She’s co-author of a study that shows that one way to minimize this risk is to add renewables that are connected to microgrids. These systems can operate independently from the larger grid. […]
Sovereign Pacific launches $500M Fund for the Caribbean
December 2, 2020
Sovereign Pacific Capital, an Asia wealth and asset management organization established a $500 million Sovereign Pacific Fund, in partnership with Possibility Group, for sustainable investments in St. Kitts & Nevis and the Caribbean region. Source