CREF Market News - New Energy Events

PREPA transmission and distribution system operator approved, questions remain

On June 22, 2020, the contract for the PREPA transmission and distribution system operator was approved. The question is if this agreement will benefit Puerto Rico’s electricity consumers. This type of agreement is normally approved by the regulator (in Puerto Rico the Energy Bureau) with broad citizen participation due to the impacts it has on all sectors of […]
El Salvador industrial park to add 8 MW of solar PV with $8m IDB Invest loan

IDB Invest, a member of the Inter-American Development Bank (IDB) Group, will support the expansion and installation of 8 MW solar rooftop at an industrial park in El Salvador with an $8m loan. The financing has an 11-year tenor and will allow American Industrial Park SA de CV (AIP) to build more space, improve logistics […]
Barbados port moves toward “green maritime hub” with hybrid/electric equipment acquisition

Kalmar, part of Cargotec, has concluded an agreement to supply Barbados Port Inc (Barbados Port) with four fully electric forklifts and two hybrid straddle carriers for use at the Port of Bridgetown. The Port of Bridgetown is a full-service seaport located in Barbados and managed by Barbados Port Inc. Its marine terminal handles all major […]
Improved regulations can speed up the pace of Caribbean renewable investment

The “biggest roadblock” to the investment in renewable energy projects in the Caribbean are the investor regulations that are in place, Martin Vogt, managing director of German investment and asset management company MPC Capital has said. Vogt made the statement as part of a presentation in the Energy Chamber’s virtual conference during a session titled […]
Guadeloupe launches three tenders for geothermal energy

The French Environment and Energy Management Agency (ADEME) has launched three tenders on regional geothermal development in Guadeloupe, Caribbean with a planned Caribbean Geothermal Centre of Excellence. Operational implementation of the Caribbean Centre of Excellence in Geothermal, based in Guadeloupe Study of the content and how to implement the training programme provided through the Caribbean […]
Record lows in Bermuda’s power consumption due to solar, storage and energy efficiency

Since peak energy was reached in 2009, residential consumption has fallen by 14 per cent and commercial usage has dropped by 20 per cent, and today Bermuda’s power consumption has dropped to its lowest level in 20 years The reduction meant that Belco’s annual output of energy has dipped below 600 million kilowatt hours for […]
IDB Invest to prioritize delivery of renewables with green transmission line certifications

IDB Invest, the private sector arm of the Inter-American Development Bank (IDB), will be issuing the first certifications of green transmission lines (GTLs) in the world, the bank said on Friday. Certification can be given to projects in their initial stages as well as transmission lines currently in operation. They have to be transporting renewable […]
Colombia eases renewable energy development with addition of private service ports

In a move set to ease restrictions for the movement of imported renewable energy equipment, the Colombian energy ministry announced that private service ports will be allowed to receive and handle imported equipment destined for renewable energy projects in the country. Private ports have been given the special green light through a resolution by the […]
Jamaican airport installing 1 MW solar rooftop

One of Jamaica’s largest airports is building a 1 MW solar plant, with plans to increase to 3 MW. MBJ Airports Limited, which manages Sangster International Airport, SIA, expects to reduce its electricity bill by 11 percent through a US$1.2 million solar energy project. MBJ Airports said the 1 MW solar plant would be installed […]