CARIF Market News - Page 3 of 28

U.S. commits US$1.2 billion to strengthen Puerto Rico’s clean energy infrastructure
January 23, 2025
The U.S. Energy Department’s Loan Programs Office has committed US$1.2 billion to clean energy projects in Puerto Rico to reduce reliance on its fragile fossil-fuel-powered grid. The projects would add 202 MW of solar capacity and 455 MW of battery storage, more than doubling the department’s support for renewable energy on the island. Source: Energy […]
InterEnergy acquires BMR’s operating assets, now supplies one-third of Jamaica’s power grid
January 23, 2025
InterEnergy Group has become Jamaica’s largest independent power supplier, now providing one-third of the national grid’s capacity following its acquisition of BMR Energy’s local wind farm operations. The US$122 million investment added 61.2MW of capacity, including 36.3MW of wind power in Jamaica and solar parks in other regions. Source: Jamaica Gleaner
Nevis Premier unveils US$101 million budget focused on jobs and economic growth
January 23, 2025
Nevis Premier Mark Brantley unveiled a US$101 million budget for 2025, prioritizing job creation, economic resilience, and sustainable growth. Brantley highlighted plans to leverage public-private partnerships and innovative solutions to improve wages and living standards while securing the island’s economic future. Source: IBTimes
Nevis plans airport upgrades to enable direct U.S. flights
January 23, 2025
Nevis is strengthening ties with the U.S., particularly Florida. The government plans major development projects, including enhancing Vance W. Amory International Airport to support direct flights from the U.S. East Coast. Source: Miami Herald
CDB grant boosts water management and climate resilience efforts in Jamaica
January 23, 2025
The Caribbean Development Bank has approved a US$909,000 grant to The University of the West Indies to improve water resource management and climate resilience in Jamaica. Despite abundant freshwater, uneven distribution leaves rural and southern communities facing chronic shortages and unreliable systems, worsened by aging infrastructure and inadequate storage. Source: CariBank
Cuba partners with China to install seven PV parks
January 9, 2025
Cuba has signed an agreement with China to install seven 5 MW photovoltaic parks across six provinces. The project will save 18,000 tons of fuel annually, equating to a savings of US$7 million. This is part of Cuba’s broader plan to install 92 solar parks by 2028, aiming for 24% renewable energy penetration by 2030. […]
Grenada issues RFQ for 15.1 MWp solar project at Maurice Bishop International Airport
January 9, 2025
Grenada’s Public Utilities Regulatory Commission (PURC) has issued a Request for Qualifications (RFQ) for a 15.1 MWp solar project at Maurice Bishop International Airport. The project, aimed at advancing the island’s energy transition, involves three separate solar plants integrated into the national grid through Grenada Electricity Services Ltd. (Grenlec). The selected bidder will sign a […]
Guyana achieves 98.3% potable water through major infrastructure investments
January 9, 2025
Guyana has successfully increased access to potable water, with 98.3% of its population now able to access clean water. This progress is the result of significant investments in water infrastructure, including the construction of treatment plants, water wells, and treatment upgrades. Source: Magnetic Media TV
Nevis achieves milestone with solar-powered desalination plant enhancing water security
December 19, 2024
The Nevis Island Administration (NIA) has connected a solar-powered desalination plant to the water grid, providing up to 60,000 gallons of treated water daily to residents between Butlers and Potworks. The project, supported by the UAE Caribbean Renewable Energy Fund, aims to improve water security. While not solving all water issues, the initiative marks a […]