Caribbean power watch: Government stake in renewables

Cayman Islands’ Premier Wayne Panton announced the government plans “to have a majority ownership stake in future utility scale renewable energy generation assets in partnership with other investors and individual citizens.”

Panton made the comment at a sector event where he highlighted the target of meeting or exceeding the goal that renewables account for 70% of generation by 2037.

According to the country’s National Energy Policy Unit, 3% of power production comes from the clean sources.

“The policy decision to be involved at the ownership level is intended to help the Cayman Islands secure its own energy future by accelerating the adoption of renewable energy in accordance with the national energy policy,” he said.

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Puerto Rico energy regulator PREB extended to May 9 the deadline to submit comments on the draft document for the second of six planned tranches of a total package to procure 3,750MW of renewable energy and 1,500MW of storage.

The document, issued on behalf of power authority PREPA, corresponds to the request for proposals for at least 500MW of capacity and 250MW of storage.

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IDB has included technical cooperation in its pipeline of potential financing to help Jamaica’s government identify decarbonization opportunities, and support other areas such as electromobility and strategic planning for energy technology.