CARIF Market News

Dominica prioritizes strengthening infrastructure with Citizenship-by-Investment funds

February 2, 2021

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

February 1, 2021

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

January 28, 2021

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outside of rural mountainous areas in the Caribbean are connected to the public water supply, they frequently face outdated infrastructure in need of repair, resulting in major losses of drinking water.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

January 26, 2021

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

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