CARIF Market News - Page 2 of 19

GEAPP and RELAC launch collaborative initiative to increase renewable energy penetration in the Caribbean by 2030
June 29, 2022
The Global Energy Alliance for People and Planet (GEAPP) and Renewable Energy for Latin America and Caribbean (RELAC) GEAPP team up to launch an initiative that supports RELAC’s goal of increasing renewable energy proportions in the Caribbean to 70% by 2030. Source: Renews Biz
Guyana receives funds from the Norwegian Agency for Development Cooperation and the IDB to promote climate-resilient renewable energy sources
June 29, 2022
Guyana will promote climate-resilient renewable energy sources as a part of the IDB’s energy matrix diversification. The IDB will provide the island with a non-reimbursable investment financing of up to US$83 million with funds from the Norwegian Agency for Development Cooperation. Source: Caribbean National Weekly
Dominican Republic inaugurates 50 MW solar farm
June 2, 2022
The government of the Dominican Republic has inaugurated the 50 MW solar farm, El Soco. The total investment in the plant was approximately US$90 million. Source: Renewables Now
Barbados will begin constructing a 10 MW solar plant within the year
June 2, 2022
The Barbados Workers’ Union, Barbados National Oil Company Limited, and Emera Caribbean signed an MoU to begin constructing a US$25 million, 10 MW solar plant at Mangrove, St. Philip, within a year. Source: GIS Barbados
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
Build Forward: An ambitious initiative to accelerate the energy transition in the Caribbean
November 29, 2021
By Therese Turner Jones and Roberto G. Aiello While the Caribbean’s Greenhouse Gas (GHG) emissions are low compared to the global aggregate, the region is highly vulnerable to the impacts of climate change, manifest in rising sea levels, warmer temperatures and increased intensity of hurricanes. The last three years have also seen a record rise […]
Seabased signs site deal for 40-MW wave energy project in Bermuda
November 26, 2021
Wave energy company Seabased announced that it has signed an agreement with the Bermuda government to advance on the development of a 40-MW commercial ocean wave power park. Once completed, the project would feed into the island’s grid and meet about 10% of Bermuda’s energy demand. Source