CREF Market News - Page 45 of 90

Cuba adopts new net metering law to promote solar energy development
April 19, 2018
On March 23, the Cuban government signed Law No 345, “On the Development of Renewable Sources and the Efficient Use of Energy,” according to the local organization, Cubasolar. This law aims to increase renewable energy up to 24% by 2030, Cuba’s renewable energy goal. According to local newspaper, Periódico 26, local state-owned power company ,Unión Eléctrica de […]
St. Lucia 3 MW solar plant 90% complete, begins feeding power to grid
April 17, 2018
Just shy of fifteen thousand solar panels, the St. Lucia Electricity Services Limited (LUCELEC) 3MW Solar Farm in La Tourney, Vieux Fort is now feeding solar energy into the island’s electricity grid. This is the island’s first utility-scale solar farm. As of April 11, the entire 3 MW was online, producing its maximum output. Project Director, […]
Operations begin at 5.5 MW solar farm in Cuba
April 11, 2018
Following the inauguration of the first solar park in the Cuban province of Ciego de Ávila – a 4.4 MW farm which begun operations in January – a second plant has begun operations. The 5.5 MW plant, located in the municipality of Chambas, was synchronized to the SEN at the beginning of February and contributes […]
Bahamas to scale up solar energy with 3MW solar park
April 9, 2018
The Bahamas is getting a 3 MW solar park next year, with construction slated to begin this summer. The Grand Bahama Power Company’s first utility-scale solar energy project will be built on 11 acres of industrial land near its generation plant on West Sunrise Highway. The $5 million project is expected to be commissioned in […]
Jamaican factory economizes with solar PV and efficiency
April 6, 2018
Jamaican seafood trader Rainforest is doubling solar energy capacity at its plant in Montego Bay, from 0.5 megawatt to one megawatt, at a cost of $75 million. Following this project, solar PV panels will cover all of Rainforest’s primary operating and administrative buildings. The first project cost approximately $1.65/watt, but is now less than $1.00. […]
St. Vincent restructures geothermal project, timeline to reset
April 5, 2018
The geothermal project on St. Vincent and the Grenadines has had an ownership shake-up, with a positive result for the citizens of St. Vincent. After renegotiations, the government will now own a 49 percent stake in the geothermal plant, and the developers – Emera and Reykjavik Geothermal (originally with a 75 percent share) will own […]
Progress continues for the Bahamian all-renewable island
March 28, 2018
Ragged Island, destroyed by Hurricane Irma, will rebuild its electric grid using solar PV and battery storage estimated to cost $2m. The techno-economic system modelling has been completed by Rocky Mountain Institute and though a timeline has not yet been set, Prime Minister Dr Hubert Minnis advised that the project will achieve system payback in […]
Nevis geothermal resource ranks in top six reservoirs in the world
March 27, 2018
Nevis’ geothermal resource is being characterized as one of the top six geothermal reservoirs in the world. Thermal Energy Partner’s Big-Data Analytics approach (that determined Nevis as a commercial-grade resource) was confirmed by GeothermEx’s team during a recently completed geothermal flow and injection test. GeothermEx says its findings confirm the requisite temperature and flow necessary for a sustainable supply of geothermal […]
CDB loan will fund Dominica’s electricity restoration and resilience planning
March 27, 2018
The Caribbean Development Bank will provide USD16 million in funding to Dominica Electricity Services Limited (DOMLEC), to assist with the restoration of electricity generation services. As of January 2018, less than 20 percent of electricity services had been restored from devastating Hurricane Maria that wiped out 75 percent of the islands electricity. The project will […]