CREF 2025 Market News

Barbados takes major step towards battery energy storage procurement

November 21, 2024

Barbados is advancing towards procurement of 60 megawatts of battery energy storage systems (BESS), a key step to integrating intermittent renewable energy into the grid. The Ministry of Energy and Business announced that a Request for Information (RFI) for new storage capacity and Competitive Procurement term sheets was launched on November 8. Source: GIS Barbados 

EIB and CDB launch US$109.4 million initiative to improve water management and protect Caribbean oceans

November 7, 2024

The European Investment Bank (EIB) and the Caribbean Development Bank (CDB) have launched a US$109.4 million initiative to enhance water supply management and protect the ocean ecosystem across the Caribbean. The funding will support projects aimed at improving clean water access, wastewater treatment, solid waste collection, and flood prevention, while also addressing climate change impacts […]

DOE announces US$325 million for energy resilience projects in Puerto Rico

September 12, 2024

The U.S. Department of Energy (DOE) has announced a US$325 million funding program under the Resilient Communities Program to enhance energy resilience for vulnerable populations in Puerto Rico. The funding, part of the Puerto Rico Energy Resilience Fund (PR-ERF), will support solar and battery storage installations for community health centers, public housing, and subsidized multifamily […]

MPC Capital AG launches an additional 43 MW at solar farm in the DR

September 12, 2024

MPC Capital AG launched an additional 43 MW at the Monte Plata solar farm in the Dominican Republic. The second phase represents a total investment of approximately US$45 million.  Source: Renewables Now