Lack of international investment in Haiti’s renewable energy sector

Solar panels, Haiti. Image via: CDC Global
Energy

HaitiLibre reports that data from the Economic Commission for Latin America and the Caribbean (ECLAC) shows that there was an absence of foreign direct investment in Haiti’s renewable energy sector in 2017:

The latest report of the Economic Commission for Latin America and the Caribbean (ECLAC) on Foreign Direct Investment (FDI) in Latin America and the Caribbean, released last August, indicates that in 2017, the renewable energies, telecommunications and the automotive industry are the main sectors receiving the most FDI.

In contrast to the performance of other Caribbean and Latin American countries, Haiti in 2017 failed to obtain any direct investment in the clean energy sector (sun, water, wind).

With zero FDI in renewable energy in 2017, Haiti is moving away from its commitment (COP21, in December 2015) to produce by 2020 at least 80 megawatts of clean energy produced with renewable resources.

Our Dominican neighbors have completed an $80 million financing program for the construction of a new 50 megawatt wind farm. In Jamaica, the US group WRB Serra inaugurated a 20 megawatt solar power plant for a $63 million investment. At the end of 2017, the Eight Rivers Energy Co. Ltd. began construction of a 37 megawatt solar plant for 60 million investment. In Panama the Italian company Enel invested 55 million in solar energy.

According to ECLAC, Brazil, Mexico, Chile and Uruguay in Latin America were in 2017 among the 10 most attractive developing countries for investments in the clean energy sector. Let’s note finally that in 2015, Costa Rica produced 99% of its electricity from renewable sources and Uruguay 92.8%.

Source

[Image: via CDC Global]

No Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Montserrat geothermal site. Image: Geo Thermal
Energy
UK Department for International Development to help engage geothermal expertise for Montserrat

Discover Montserrat reports that the Department for International Development (DFID) has pledged to provide funding to help develop Montserrat’s geothermal energy sector: The Department for International Development (DFID) has agreed to fund the next phase in the development of a geothermal power plant on Montserrat.According to the Hon. Minister of …

Solar Panel Array. Image: David Goehring.
Energy
Cayman Islands to embark on a “radical” renewable energy transformation

The Cayman Islands Journal reports on plans to transform Cayman’s energy sector, moving from 5% renewable energy to 70% in just twenty years: Cayman’s energy market will need to see a radical transformation over the next two decades to meet the ambitious goals outlined in the first National Energy Policy …

Minister Patterson looks at Diamond Land Use Map as DDL Chairman Komal Samaroo makes a point and DDL Finance Comptroller Vasuedo Singh looks on. Image: Guyana Ministry of Public Infrastructure via Stabroek News
Energy
Guyanese companies going solar

Guyanese rum producer Demerara Distillers Ltd is planning to construct a solar farm to power its operations: Guyana’s Ministry of Public Infrastructure and rum producer Demerara Distillers Limited (DDL) have agreed to change the use of several areas at Diamond, in East Bank Demerara, where the company and ministry are …