CREF Market News - Page 3 of 76

The Bahamas receives USD 9 million to construct two solar microgrids at the University of the Bahamas
April 14, 2022
The University of The Bahamas will construct two solar microgrids on Abaco through a US$9 million non-reimbursable financing agreement facilitated by the European Union Caribbean Investment Facility. Source: The Nassau Guardian
Flash Motors Company Ltd. becomes the first dedicated electric vehicle company in Jamaica
March 29, 2022
Xavier Gordon, a mechanical engineer, and Carey Escoffery, a finance professional, launched Jamaica’s first dedicated Electric Vehicle company, Flash Motors Company Ltd. The company will supply a full suite of EVs, EV service equipment, and charging network solutions across the Caribbean. Source: Cayman Loop News
Jamaica receives proposals for pumped hydroelectric storage project
March 29, 2022
Jamaica received local and international proposals to implement a pumped hydroelectric storage project. Reportedly, the power generation could be up to 200MWh annually and could increase Jamaica’s proportion of renewable electricity generation to 50% from 13% today. Source: Energy Storage News
CCREEE launches two data enhancement tools to assist the region in meeting its energy targets
March 29, 2022
The Caribbean Centre for Renewable Energy and Energy Efficiency (CCREEE) launched two data enhancement tools designed to assist the region meet its energy targets. The first, the Caricom Energy Knowledge Hub (CEKH), is a data portal with renewable energy and energy efficiency applications. The second, the Caricom Energy Information System, will support government technical officers […]
RESEMBID funds seven sustainable development projects with grants totaling USD 3 million
March 17, 2022
The Caribbean Overseas Countries and Territories (OCTs) Resilience, Sustainable Energy, and Marine Biodiversity Programme (RESEMBID) are funding seven sustainable development projects in the Caribbean, with grants totaling $3 million. They awarded grants to the Cayman Islands, Anguilla, St. Maarten, CARILEC, and ACS. Source: Caribbean Loop News
Wigton Windfarm Limited acquires 21% stake in Flash Motors Company Limited
March 17, 2022
Wigton Windfarm Limited, the energy facility in Jamaica, acquired a 21% stake in Flash, a holding company registered in St. Lucia. The deal also grants them an equivalent share in Flash’s wholly-owned subsidiary Flash Motors Company Limited. Flash Motors plans to sell electric vehicles in Jamaica, Trinidad & Tobago, and Guyana. Source: Jamaica Gleaner
OfReg and CUC prepare for auction of renewable power projects in Cayman
March 8, 2022
Utility regulator, OfReg, is about to begin a series of auctions for renewable power projects. Caribbean Utilities Company (CUC), the national utility, plans to be heavily involved in the bidding and hopes to build as many as six solar farms on the island to cut carbon emissions and the cost of electricity. Cayman’s national target […]
Barbados adds 14 electric buses to their fleet
February 26, 2022
The Barbados Transport Board received 14 additional electric buses, bringing the total to 49. The new additions comprise part of the initial $42 million deployed to procure electric buses and build out associated infrastructure. Barbados has the largest fleet of electric buses in the Caribbean. Source: Nation News
Barbados Prime Minister proposes Regional Renewable Energy Fund
February 26, 2022
The Prime Minister of Barbados, Mia Mottley, proposed the establishment of a regional renewable energy fund to finance the transition towards net zero. Mottley called for at least 10% of net revenues from new energy exporters in the Caribbean region. Source: Stabroek News