Renewables

Mexico and Brazil Look to Caribbean for New Energy Investment Opportunities

September 14, 2016

In November, a Brazilian investment mission will take investors and parliamentarians to the Eastern Caribbean to discuss a wide range of business opportunities. The Embassy of Mexico to the Eastern Caribbean States will hold a Forum, “Creating Synergies to Strengthen the Competitiveness of the Greater Caribbean” November 16-18 in Cancun, Mexico. Both Mexico and Brazil […]

Montserrat Geothermal Project to Commence Drilling on Third Well

September 13, 2016

The Icelandic Drilling Company, contracted by the UK’s Department for International Development (DFID), has offloaded their drilling equipment at the site of the third well in Monserrat and drilling will begin soon. It has taken longer than anticipated to prepare the site, as the terrain was rough, rocky and covered in layers of deposited ash. […]

Inter-American Development Bank to finance $103.4m renewable power project in Nicaragua

September 13, 2016

Nicaragua will get support from the Inter-American Development Bank (IDB) for geothermal projects in the Cosigüina field. Located in the northwestern part of the country, the site will facilitate studies to ascertain the technical feasibility of a commercial-width well. It will also be the location for product development of mechanisms used to attract private investment. […]

Bermuda Utility Revises Net Metering Program for Solar

September 13, 2016

Bermuda’s net metering program, launched in 2010, is coming to an end after Bermuda Electric Light Company Limited (BELCO) has decided to replace it with an avoided cost compensation scheme. This revision is likely to reduce the level of new residential and commercial PV installations. The current 335 participants will continue to receive the subsidy, […]

Renewable Energy Projects Secured $6 Billion From Multilateral Banks In 2015

September 12, 2016

Six banks: The World Bank, The European Investment Bank (EIB), the Inter-American Development Bank (IDB), the Asian Development Bank (ADB), the African Development Bank (AfDB), and the European Bank for Reconstruction and Development (EBRD) provided a total of $25 billion in climate finance across the world last year. Renewable energy projects secured  $6 billion in […]

Argentina 1GW Tender Attracts 6.37GW of Bids

September 9, 2016

Developers hungry to get into the Argentinian renewable energy market showed up in a big way for the tender, applying to sell 6,366 MW of power in an October auction – more than six times the amount the government called for. “I’ve never expected 6,000 megawatts,” Energy Minister Juan Jose Aranguren told reporters in Buenos […]

Passage of PROMESA Means Bright Future Ahead for Puerto Rico Renewables

September 8, 2016

The Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) will aid Puerto Rico in restructuring its $72 billion debt, which should to ease the ability for clean power projects to receive financing. The new law enables energy and infrastructure projects to be designated as “critical” by a fiscal control board, thus moving along more […]

Breaking Down Barriers to Renewable Energy Development in the Caribbean

September 5, 2016

A recent article in Renewable Energy World says that the Caribbean is at the forefront of renewable energy leadership in the Post-COP21 policy environment. The significant level of knowledge accrued by local companies, who have access to new technologies and engineering skills, has driven interest from private investors from the U.S., Europe and Asia. Fossil […]

Think GeoEnergy on small-scale geothermal

September 3, 2016

Small-scale geothermal projects in the Caribbean have the potential to to speed up development in the industry and drive growth in related industries across the region. Geothermal is often associated with utility-scale projects due to the risks associated with feasibility of development. Small-scale projects may provide off-grid solutions for isolated areas and island grids. The […]