CREF Market News - Page 46 of 90

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 […]
Full steam ahead at Nevis geothermal reservoir
March 20, 2018
High temperatures and adequate steam from Nevis’ geothermal reservoir has project developers elated, with testing completed and production well drilling expected to commence this summer. On March 16, 2018, Robert Stacy, Senior Reservoir Engineer at GeothermEX shared that the resource is promising. “[There are] high temperatures down at resource at commercial grades to produce power,” […]
St. Lucia geothermal project in public consultation phase
March 19, 2018
St. Lucia’s geothermal project is engaging stakeholders as they prepare for exploratory drilling; important, as past geothermal activities left a bad impression for St. Lucians. Last week the government held a public consultation bringing together stakeholders including private consultants and the World Bank to discuss the project and plans for future exploration. Project leaders brought […]
Construction starts for 25 MW solar farm in Dominican Republic
March 9, 2018
A groundbreaking ceremony held in the Dominican Republic officially kicks off the construction of the first phase of the Solar Canoa project. Developers Emerald Solar Energy, a joint venture between Canada’s Potentia Renewables and the Dominican Republic’s Cisneros, are building the first of two 25 MW phases expected to be operating in a year. The […]