CREF Market News - Page 38 of 94

Bermuda solar farm proves resilience after hurricane
May 28, 2020
A new solar power farm installed on a peninsula at LF Wade International Airport has already proved strong enough to survive a hurricane. The 24,000 solar panels covering almost 19 acres on land known as “The Finger” were partially in place when Hurricane Humberto struck last September, but they survived undamaged. Saturn Solar Developments, which […]
JPS appoints new CEO
May 27, 2020
As Emanuel DaRosa’s term expires on May 30, the board of directors of JPS appointed Michel Gantois to lead Jamaica’s utility as president and CEO. Previously, Gantois led the development of a hydrogen business unit for an Australian mining company, and has a decade of experience at ENGIE as CEO for Australia, Peru, and Pakistan, […]
Saturn Power awarded operating license for 6 MW Bermuda solar project
May 12, 2020
Just last week, the Regulatory Authority awarded an operating license to the developers of the project, Saturn Solar Bermuda 1, the Bermudian subsidiary of Saturn Power Incorporated. This is a significant milestone for the project. When the bids were submitted, Saturn’s bid was the lowest compliant bid, at 10.3 cents per kilowatt-hour. Construction began to […]
In Jamaica, electricity demand is down; residential demand is up
April 23, 2020
Jamaica’s utility, JPS, reported that while the company has seen an overall decrease in electricity consumption by approximately 2.5 percent in March, residential demand is up by 3 percent. Since the COVID-19 outbreak, many are spending more time at home, and have increased consumption varying five to 50 percent. “People who would have been out […]
Cuba’s electricity consumption skyrockets during pandemic
April 21, 2020
In the first few weeks of April, Cuban electricity consumers were using amounts of electric power above what is consumed in the summer months. Cuban authorities issued an alert to the population to encourage energy savings. This is happening during a time when many residents are at home due to the COVID-19 pandemic, in combination […]
Gender equality top priority for Caribbean Development Bank
April 8, 2020
The Board of Directors of the Caribbean Development Bank (CDB) has this week approved the Bank’s new Gender Equality Action Plan 2020-2024 to deepen its work on gender equality in Borrowing Member Countries and in the institution. Building on its investment in gender equality during the last decade, CDB is stepping up its gender responsiveness. […]
BVIEC receives five bids for 2 MW solar and storage project
April 8, 2020
Following a site visit on December 11, 2019, by twenty-eight global companies, five companies have submitted bids for the Anegada Hybrid Renewable Energy and Battery Storage System Project. BVIEC said the companies who submitted bids and their main characteristics for the project are Advanced Solar Products, MAN-HEG, Power52, Tugliq and Virtual Engineers. The combined Project […]
Belco takeover awaits regulatory approval
April 8, 2020
The Regulatory Authority is inviting comments through May 4, 2020 from the public on the proposed change of control of utility Belco. Algonquin Power and Utilities Corporation, a Canadian group, has agreed to acquire Ascendant Group Ltd, parent company of Belco, in a deal worth more than $360 million. Ascendant’s board and shareholders have approved […]
Jamaica takes a closer look at pumped hydro
March 26, 2020
Jamaica has started studying the potential for pumped hydro storage on its electric grid to supply the grid with energy in times of need, as announced by Prime Minister Holness. The project envisions pulling water from the Middlesex aquifer in St Ann parish and pumping the water to reservoirs at higher elevations. The water would […]