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Five trends driving the LAC geothermal market

From our Editorial Team
May 10, 2018
The LAC geothermal market is heating up — but it’s a slow burn. With only one operating plant each in the Caribbean and South America, and a handful in Central America and Mexico, this region of the world still holds enormous, largely untapped potential for geothermal market growth. Financing, policy, and resource risk continue, however, […]
El Salvador could triple geothermal capacity
May 10, 2018
El Salvador has the potential to produce 440 megawatts (MW) in addition to the 204 MW already obtained through geothermal energy, said yesterday the energy specialist of the Inter-American Development Bank (IDB), Toshitaka Takeuchi. The one thing most needed is more investment in training. Although the country is considered the leader in Latin America in terms […]
Solar and wind projects secure financing in Dominican Republic
May 10, 2018
Two renewable energy project developers in the Dominican Republic advanced financing plans this week, securing debt for solar and wind-powered projects on the Caribbean island. The Monte Plata solar plant will expand capacity from its current 30 MW (commissioned in September 2016) to 69 MW. Once operational, it will be the largest solar plant in the […]
Honduras inaugurates first utility-scale geothermal project
May 2, 2018
Honduran President Juan Orlando Hernández and U.S. Overseas Private Investment Corporation (OPIC) Vice President for Investment Policy Ryan Brennan inaugurated Geotérmica Platanares, a 35 megawatt geothermal baseload power plant in western Honduras. The project is supported by $135 million of financing from OPIC, the U.S. Government’s development finance institution, and developed by Reno, Nevada-based Ormat […]
Jamaica wants hydropower, could build up to 30 MW
May 2, 2018
Hydropower is getting some attention from Jamaica, who recently identified 11 potential sites for development which could contribute around 30 MW to the renewable energy portfolio. In developing it’s roadmap for the next years, also known as the Integrated Resource Plan (IRP), Jamaica set aside a special component dedicated to hydropower as an alternate source […]
Puerto Rico’s governor courts new investors to rebuild the power grid
April 26, 2018
Gov. Ricardo Rossello says Puerto Rico needs new money to rebuild the hurricane-damaged “1950s energy grid”. Rossello told CNBC on Wednesday that investment is needed from public and private sources to update the grid and help rebuild the island, advancing into energy 2.0. However, attracting new investors may prove difficult considering the island’s history of […]
Jamaican wind farm IPO set to boost local economy
April 26, 2018
The Wigton Windfarm – which made a net profit of $186 million as of March 2017 – is going public, with the help of broker Mayberry Investments Limited. The aim of the IPO is to encourage Jamaicans to become involved in the energy sector, says DBJ’s Managing Director Milverton Reynolds. “We want to widen the base of […]
Costa Rica’s 7th geothermal plant is 80% complete
April 26, 2018
In Costa Rica’s Guanacaste province, the construction of the Las Pailas II Geothermal Project is 80% complete. The installation of the Mitsubishi Hitachi turbine is exceeding the established schedule, keeping the progress swift, with preliminary tests to begin in October. Elsewhere on the project site, much has already been completed, including transmission, reinjection systems, drilled […]
Costa Rica utility signs MOU with UAE’s Masdar to develop solar and storage
April 25, 2018
Following the recent entry into the region with the UAE-Caribbean Renewable Energy Fund, Abu Dhabi-based energy firm Masdar has formed a partnership with Costa Rica. Masdar and state-run utility Costa Rican Electricity Institute (ICE) have signed an MoU to share technical knowledge and project experience for renewable energy development. The agreement aims to promote collaboration […]