CREF Market News - Page 73 of 90

Cuban government orders state enterprises to cut oil & electricity consumption by 20%
June 21, 2016
Cuba is taking measures to deal with a fuel shortage as its largest trading partner, Venezuela, fails to uphold previous agreements. Approaching July and August when demand for energy generally increases, the government has ordered state enterprises to reduce oil consumption and electricity use by 20%. The expected shortage has resulted in measures to reduce […]
Antigua’s airport solar power plant exceeds expected performance
June 21, 2016
Antigua’s first major infrastructure project to utilize renewable technology has exceeded expectations and generated revenue of more than USD 1 million. The ground-mounted solar power plant at the V.C. Bird International Airport is a 3 MW Sun2live system that was installed and is operated and maintained by the UK-based clean energy provider PV Energy Limited. […]
USAID Caribbean clean energy program helps green the grid
June 20, 2016
A clean energy program led by USAID aims to help Caribbean nations meet the ambitious renewables targets set at COP21 in Paris last year. Energy specialists from the Barbados Energy Division, the Caribbean Electric Utility Services Corporation (CARILEC), the Caribbean Community (CARICOM), and various electric utility companies, regulators, financiers, international donor organizations, and equipment suppliers all […]
USAID project bolsters Dominica’s climate change resilience
June 13, 2016
Dominica continues to work on recovery efforts from Tropical Storm Erika, which hit the island last year. A USAID-funded project will help to improve resiliency against climate change and future storms. United States ambassador to Barbados, the Eastern Caribbean and the Organization of Eastern Caribbean States (OECS) Linda Taglialatela praised the $9.5 million Rallying the […]
Jamaica’s solar PPA breaks records at 8.5 cents/kWh: who’s the big winner?
June 13, 2016
The recent PPA awarded at 8.54 US cents/kWh for a 33.1 MW PV project now ranks solar energy as the cheapest source of electricity in Jamaica. Eight Rivers Energy Company Limited (EREC) won the bid, beating out 18 competing projects. “Yes, it is lean – there’s not a lot of fat – but I think […]
Developer of Nevis geothermal project seeking funding from OPIC
June 13, 2016
Nevis Renewable Energy International has approached the Overseas Private Investment Corporation (OPIC) to finance a geothermal project. The project has had a couple challenges that will raise questions for the powerful fossil fuel group, including one well site where significant steam levels did not produce the energy projected by administrators. The government of Nevis has deferred […]
US approves commercial flight service to Cuba
June 10, 2016
This week the US approved commercial flights to nine sites on Cuba – a major breakthrough for the island’s tourism and commerce sectors. Six carriers will operate from locations in the US; American Airlines, Frontier Airlines, Jetblu Airways, Silver Airways, Southwest Airlines and Sun Country Airlines. Between these carriers, requests for nearly 60 flights for […]
British biomass JV targets renewable energy in Cuba
June 9, 2016
A British firm is seeking to generate renewable energy from the byproducts of Cuban sugarcane production. Esencia, a UK-based holding company for Havana Energy, is working to construct the first of five biomass plants on the island. Robert Miller, director of Britain’s Cuban Solidarity Campaign (CSC) said, “We hope that this long worked-for venture will help […]
Dominica: geothermal projects should not be on back-burner
June 8, 2016
UK Parlimentary Under Secretary of State for International Development, Baroness Sandip Verma, paid an official visit to Dominica this week. She expressed the UK government’s interest in long term economic development in a statement: “You obviously have a vision for your country,” she said to the Hon. Prime Minister Skerrit. “We also have a vision […]