CREF Market News - Page 6 of 90

DOE finalizes US$861 million loan guarantee for Puerto Rico’s largest solar and battery storage project
October 24, 2024
The U.S. Department of Energy (DOE) has finalized an US$861 million loan guarantee for Puerto Rico’s largest solar and battery storage project, Project Marahu. The initiative will include two solar-plus-storage facilities and two standalone battery systems, providing 200 MW of solar capacity and 285 MW of battery storage. Source: Canary Media
Grenada advances renewable energy with licensing of eight new solar power producers
October 10, 2024
Grenada’s Public Utilities Regulatory Commission (PURC) has granted licenses to eight investors under its Small-Scale Independent Power Producers (SSIPP) program, launched in 2021 to enhance the country’s energy diversification and reduce fossil fuel dependence. This initiative allows local producers to own solar plants and sell renewable energy to GRENLEC. Source: Caribbean Loop News
St. Kitts and Nevis commissions 6 MW rental power plant for grid stability amid infrastructure upgrades
October 10, 2024
The government of St. Kitts and Nevis has commissioned a six-megawatt rental power plant to stabilize the national grid during critical infrastructure upgrades by the St Kitts Electricity Company (SKELEC). This initiative is part of a larger plan that includes securing US$40 million in concessional funding from the Saudi Fund for Development for an 18MW […]
Barbados advances renewable energy goals with the Energy Supply Bill
October 10, 2024
The Mia Mottley administration has made significant progress toward its renewable energy goals with the passage of the Energy Supply Bill, which aims to transform Barbados’ energy sector. The legislation addresses deficiencies in the Electric Light and Power Act, fostering a sustainable and competitive market while supporting the target of 100% renewable energy by 2030. […]
USAID launches five-year program to protect marine biodiversity in 13 Caribbean nations
October 10, 2024
USAID launched a five-year program aimed at reducing threats to marine biodiversity in 13 Caribbean countries. The project, known as the USAID Caribbean Sustainable Ecosystems Activity, is based in Santo Domingo and focuses on managing marine protected areas, improving solid waste management, and enhancing the sustainability of fisheries. The initiative works with local communities and […]
CAF and UNOPS sign MOU to enhance sustainable development collaboration in Latin America and the Caribbean
September 26, 2024
CAF and the United Nations Office for Project Services (UNOPS) have signed a Memorandum of Understanding (MOU) to collaborate on sustainable development in the region. The agreement focuses on areas such as technical assistance for infrastructure projects, feasibility studies, joint training in project management, resource mobilization, and capacity building initiatives. Source: CAF
Egehid launches bidding for 43.26 MWp solar projects in the Dominican Republic
September 26, 2024
The Dominican Republic’s state hydroelectric company Egehid has initiated bidding for two solar projects totaling 43.26 MWp: Sabana Yegua (24.98 MWp) in Azua and Sabaneta (18.28 MWp) in San Juan de la Maguana. The winning bidder will manage the execution, supply, installation, testing, and startup of the projects. Additionally, Egehid has called for further exploration […]
Rum and Sargassum Inc. and UWI Cave Hill launch Barbados’ first bio-CNG vehicle with CCREEE support
September 26, 2024
With support from the Caribbean Centre for Renewable Energy and Energy Efficiency (CCREEE), Rum and Sargassum Inc. and UWI Cave Hill have launched the first vehicle powered by bio-compressed natural gas (CNG), using rum distillery wastewater and sargassum-based biomethane in Barbados. Source: CCREEE
IDB Invest and GCF launch Caribbean Net-Zero and Resilient Private Sector Program with US$118.9 million funding
August 1, 2024
IDB Invest, in partnership with the Green Climate Fund (GCF), is launching the Caribbean Net-Zero and Resilient Private Sector Program to promote greenhouse gas emission reductions and climate-resilient investments in the Caribbean. The GCF has approved up to US$118.9 million in funding for this initiative. The program aims to boost private sector investment in climate […]