Lack of international investment in Haiti’s renewable energy sector
- By : Thérèse Yarde
- Category : Energy
- Tags: dominican republic, haiti, jamaica
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%.
[Image: via CDC Global]