CREF Market News - Page 3 of 90

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 […]
Wavepiston completes study on wave energy potential in Barbados
January 23, 2025
Danish wave energy firm Wavepiston has completed a six-month pre-feasibility study for the Wave Energy in Barbados (WEB) project, in collaboration with Export Barbados and supported by EU funding. The study explored the potential for wave energy farms along Barbados’ Atlantic coastline to diversify its renewable energy mix and support its climate goals, while identifying […]
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 advances geothermal energy project with new bidding process
January 23, 2025
The Nevis Island Administration announced progress on its Geothermal Energy Project, with Premier Mark Brantley confirming a new bidding process for drilling contractors. Shortlisted contractors are expected to submit bids by February 2025, following a previous round that did not meet requirements. Source: St. Kitts Nevis Observer
GEOBUILD and FRENZ collaborate to strengthen geothermal workforce in the Caribbean
January 23, 2025
The GEOBUILD initiative, in collaboration with the FRENZ program, is launching a six-month evaluation of skills and training needed for geothermal development in the Caribbean. The study will focus on workforce requirements across the geothermal cycle and identify opportunities for capacity building in key areas like project management and regulatory oversight. Source: ThinkGeoEnergy
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 […]
DOE to provide US$500 million for solar and storage projects in Puerto Rico to improve grid resilience
January 9, 2025
The U.S. Department of Energy (DOE) will provide over US$500 million in loans to build and operate utility-scale solar and storage systems in Puerto Rico, enhancing the island’s grid resilience. The funding lands against a backdrop of continuing power outages on the island. Source: PV Magazine LATAM