CREF Market News - Page 6 of 90

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 […]
Guyana signs US$8.6 million contract for National Control Centre of Gas-to-Energy Project
August 1, 2024
The Guyanese government has signed an US$8.6 million contract with Power China to build the National Control Centre for the Gas-to-Energy (GtE) project. The building will be crucial for managing the GtE project and is expected to be completed within 13 months. The project aims to reduce electricity costs by 50% by 2025. Source: Oil […]
Barbados to launch BESS procurement to address grid capacity issues and advance solar projects
August 1, 2024
The Barbados Ministry of Energy and Business is hosting a three-day workshop to finalize plans for acquiring Battery Energy Storage Systems (BESS). This is a key step to resolve grid capacity issues and advance stalled solar projects. Source: Business Barbados
DOE loan guarantee to finance Puerto Rico’s largest solar and battery storage project
August 1, 2024
The U.S. Department of Energy has announced an US$861 million loan guarantee to finance 200 MW of solar and 285 MW of grid storage in Puerto Rico. This initiative will support the construction of two solar farms and two stand-alone battery storage systems on the island’s southern coast. The project is led by Flexible Energy […]
IDB Invest considers equity investment in Caribbean community resilience fund
July 19, 2024
IDB Invest is considering an equity investment of up to US$5 million in the Caribbean Community Resilience Fund (CCRF), managed by Sygnus Capital Ltd. The fund targets US$100 million to US$135 million and aims to enhance economic resilience and support climate projects in the Caribbean. Source: IDB Invest
St. Kitts and Nevis launches ‘SKN-100’ project for rapid energy sector decarbonisation
July 19, 2024
St. Kitts and Nevis (SKN) has launched the ‘SKN-100’ project, funded by the Global Environment Facility (GEF), aimed at achieving 100% renewable electricity and high energy efficiency in public buildings within three years. Managed by the United Nations Environment Programme (UNEP) and executed by the Caribbean Centre for Renewable Energy and Energy Efficiency (CCREEE) in […]
Grenada forms task force to push for climate disaster compensation
July 19, 2024
Grenada is creating a task force to advocate for compensation for damage from climate change-related natural disasters affecting itself and other vulnerable states. Following Hurricane Beryl, Grenadian Prime Minister Dickon Mitchell announced that the government decided in an emergency meeting to have the Ministry of Foreign Affairs and the Ministry of Environment, Climate Resilience, and […]
Barbados plans to boost onshore wind power expansion
July 5, 2024
The Government of Barbados, with the support of the International Finance Corporation (IFC), is ramping up its climate change mitigation and energy diversification efforts by expanding its onshore wind power capacity. Source: Wind Insider