CREF Market News - Page 70 of 90

Richard Branson to acquire BMR Jamaica Wind Limited
August 11, 2016
Richard Branson has purchased BMR Jamaica Wind Ltd and its United States-based parent BMR Energy. Priced at US$89.9 million, the project involves 11 3.3 MW wind turbines that will add power to Jamaica’s national grid, sold to the utility at US$0.129 per KWh. Branson, owner of the Virgin Group, said that his decision was not […]
CDB approves funding for a more climate-resilient Caribbean transport sector
August 10, 2016
The Caribbean Development Bank (CDB) will provide US$768,000 in funding to address damage to Caribbean road networks, caused by natural hazards. Financing will enable a study on approaches for constructing road infrastructures that are more resilient to the effects of climate change. CDB director of projects, Daniel Best, noted that agencies of the bank’s borrowing […]
Antigua and Barbuda turn to British PV company to supply solar solutions
August 7, 2016
The government of Antigua and Barbuda will return to work with UK-based firm PV Energy Ltd for further implementation of utility-scale and rooftop solar arrays across the country. In a previous contract, the company completed an installation of a 3 MW ground-mounted facility at the V.C. Bird International Airport and has begun construction of a […]
Economists debate how hard Venezuelan economic storm will hit Cuba
August 2, 2016
Cuban reliance on Venezuelan crude oil is now being challenged, as the Latin American neighbor drops oil production below 2 million barrels per day (bpd). Cuba produces 50,000 bpd itself and has stockpiled a 60-day supply on the island; however, the Caribbean island will still have to cut fuel consumption by 28 percent in the […]
PV Energy equips public schools in Antigua and Barbuda with solar power
August 1, 2016
Public schools are the focus of a partnership between the Government of Antigua and Barbuda (GOAB) and UK-based clean energy provider, PV Energy Limited. A project provide 10 MW of solar energy to the twin islands will utilize the roofs of 50 schools, as well as other public buildings. Sun2roof installations will provide a reliable […]
Dominica to establish company to construct geothermal plant
July 28, 2016
The Government of Dominica has secured the US$46 million to establish a company that will build a 7 MW geothermal plant over a 2 year period. The company will act as a Special Purpose Vehicle (S.P.V) to finance the construction of the plant, which will sell power to DOMLEC – the Dominica power utility. Interest, […]
UKCIF funds to rehabilitate road networks in Antigua-Barbuda and Dominica
July 28, 2016
Plans to rehabilitate the road networks of Antigua and Barbuda, and Dominica are underway via funding from the United Kingdom Caribbean Infrastructure Partnership Fund (UKCIF). A grant for US$245,000 was approved by the Caribbean Development Bank (CDB), to conduct a feasibility study of of road networks in both countries. In Antigua and Barbuda this includes […]
CDB Board Approves Energy-saving Project in Antigua and Barbuda
July 26, 2016
A project aimed at reducing the consumption of fossil fuels in Antigua and Barbuda will be funded by the Caribbean Development Bank (CDB). The Street Light Retrofitting Project will be supported by CDB financing of USD 5.9 million and a contribution of USD 905,000 from the Government of Antigua and Barbuda and the Antigua Public […]
Dominica is CARICOM forerunner in renewable energy use, latest ECLAC report reveals
July 25, 2016
Outcomes from a report by the Economic Commission for Latin America and the Caribbean (ECLAC) show Dominica as the CARICOM member that consumes the largest portion of its energy from renewable sources. The 2008 global financial crisis, and its aftershocks, incentivized the Caribbean island to pursue sustainable energy strategies that reduce dependence on fossil fuels […]