CREF Market News - New Energy Events

What the Caribbean Needs from COP26

Nowhere in the world needs COP26 to deliver more than the Caribbean. As the effects of climate change accelerate, New Energy asked key figures from across the region to tell us what they hope for, and what the international community needs to do to support the bid for resilience and the energy transition in the […]
Financing pipeline for Caribbean solar projects

Soleco Energy looks to secure US$25mn (syndicated amount US$11.1mn, financing amount US$13.9mn) for a portfolio of distributed generation assets in Jamaica for a combined 11.25MWp which will be contracted with commercial and industrial clients through long-term lease contracts in a first phase, as reported by BNA Americas. Source
Caribbean countries to benefit from new IDB energy initiative to be announced at COP26

The Inter-American Development Bank (IDB) says it will create a financing instrument dedicated to expanding energy access, supporting energy transition, and protecting the climate in Latin America and the Caribbean (LAC).The financing instrument, which will be formally announced at the UN Climate Change Conference (COP26) to be held in Glasgow next month, will be managed […]
IDB and Jamaica launch plan to electrify vehicles

The Inter-American Development Bank and the Jamaican government will partner to accelerate the use of electric vehicles through an ambitious initiative that includes funding an electric mobility ecosystem and technical assistance and training for battery electric technologies (BEVs). Source
‘Overwhelmed by old challenges’, Caribbean leaders say COVID-19 has forced a new battle for the survival of their nations

Caribbean island nations are under assault from the coronavirus pandemic even as they try to protect their communities from rising seas and raging storms, regional leaders said Saturday at the UN, where they called for bold action to tackle climate change and shore up public health systems. Source
World Bank’s new RFP calls for innovative financing to scale up renewable energy development in the Eastern Caribbean Currency Union

The Eastern Caribbean Currency Union (ECCU) encompasses eight countries and overseas territories[1], all of which are small island developing nations extremely vulnerable to climate change and natural disaster risks. The region is highly dependent on imported expensive fossil fuel to meet its energy requirements despite being endowed with enormous renewable energy (RE) generation potential. The […]
Barbados pursues ‘Norwegian model’: going green at home and drilling for oil

The Caribbean nation of Barbados is pursuing what a key official called the “Norwegian model” by exporting oil and gas while cleaning up its own cars and electricity production. The government recently submitted plans to the UN to make 100% of its cars run on electricity or alternative fuels and to get 95% of its […]
Guyana’s role in the emerging green energy transition

At a recent offshore oil & gas conference in Houston, Guyana’s foreign minister said that the country’s economy is expected to grow 500% by 2030. Guyana’s current US$6.8 billion real GDP would ignite to nearly US$35 billion dollars, about the size of Paraguay, who has nine-times the population of the former British Colony. Per capita, […]
Global energy firm plans big solar plant in Jamaica

Europe-based global clean energy firm MPC Energy Solutions, which is listed on the Oslo Stock Exchange in Norway, is reporting that it has leased several acres of land in Jamaica as part of a major project to develop a 72.5-megawatt, MW, solar power plant here. MPC Energy focuses on sustainable energy infrastructure and runs green […]