Green Energy Projects and Development Funds in the Caribbean
Key Ideas
- The US Virgin Islands completed the Randolph Harley power plant project with new generation Wärtsilä engines capable of running on liquid propane gas and light fuel oil, contributing to the district's power needs.
- Puerto Rico's public-private partnership authority released a signed PPA for a LNG to green hydrogen generation plant with Energiza, promoting the transition to green energy sources and reducing reliance on natural gas.
- The Caribbean Development Bank approved a grant to Saint Kitts and Nevis for drafting a development strategy and investment plan focused on renewable energy transition initiatives, aiming for inclusive and sustainable development.
- Various companies like Tropigas, Cratos Project Services, Mitsubishi Power, and NAES are involved in green energy projects in the region, showcasing collaboration between public and private entities for sustainable infrastructure development.
The US Virgin Islands Water and Power Authority completed the Randolph Harley power plant project in the St. Thomas/St. John district, funded by the US Department of Housing and Urban Development. This US$95 million project integrates four Wärtsilä engines, primarily running on liquid propane gas but also adaptable to light fuel oil, to deliver 36MW of power, aiming to cover 55% of the district's energy needs. In Puerto Rico, the public-private partnerships authority released a signed Power Purchase Agreement (PPA) for a LNG to green hydrogen combined-cycle generation plant between Prepa and Energiza. The 478MW project, involving companies like Tropigas, Cratos Project Services, Mitsubishi Power, and NAES, will initially operate on natural gas before transitioning to green hydrogen, promoting sustainable energy sources. Additionally, the Caribbean Development Bank approved a grant for Saint Kitts and Nevis to draft a medium-term development strategy and investment plan for 2025-2029. The plan, led by the ministry of economic development and investment, aims to promote inclusive, resilient, and sustainable development, including initiatives for renewable energy transition. These projects and funds in the Caribbean demonstrate a positive trend towards green energy adoption and sustainable infrastructure development through public-private partnerships and investment in renewable energy initiatives.
Topics
Green Hydrogen
Renewable Energy
Infrastructure
Investment
Green Energy
Economic Development
Public-private Partnerships
Government Funding
Caribbean
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