Latin America’s geothermal potential remains mostly untapped and with few exceptions progress has been sluggish, reports the Inter-American Development Bank (IDB).
A parametric insurance product for recovery from natural disasters such as hurricanes has been developed for Caribbean utilities.
Non-profit Greenmap and the Latin American Energy Organisation OLADE are partnering to support LAC governments to develop renewable energy programmes.
Energy & Grid Management
Electricity supply equipment is being undergrounded in US Virgin Islands to improve the resiliency of the system to hurricanes and other events.
Data & Analytics
An Energy Hub is launched as one of three observatories to increase the availability of data for infrastructure planning in the LAC region.
Mexico, Central America and the Caribbean saw a record 1,830 megawatts (MW) of new wind power capacity installed across the region in 2019 – a 126% year-on-year increase in additions, according to new research from Wood Mackenzie.
Investment company MPC Capital announced a “Commitment to Action” to expedite the deployment of renewable energy in the Caribbean by making it easier for US impact investors to access the Caribbean market.
The UAE-Caribbean Renewable Energy Fund, UAE-CREF, has announced a partnership to restore power to Barbuda following the near-total destruction of the island after Hurricane Irma struck in September 2017.