NewEnergyNews: MidEast Money To Build New Energy In Caribbean

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    Friday, October 05, 2018

    MidEast Money To Build New Energy In Caribbean

    UAE to Fund Renewable Energy Projects in the Caribbean

    October 2, 2018 (Caribbean360)

    "The United Arab Emirates (UAE) is proceeding with US$34.5 million in grants to fund renewable energy projects in the Caribbean that are built to withstand Category-5 hurricanes and located for enhanced resilience…[Investment of US$15 million in renewables projects was] announced last year…[The new investment will build] seven new projects in Belize, the Dominican Republic, Grenada, Guyana, Haiti, St Kitts and Nevis, and St Lucia…[The UAE] increased its allocation by 50 per cent to the rebuilding of the Barbuda power system, devastated by Hurricane Irma, in order to relocate and strengthen its main plant, where a solar and battery solution will be installed…[The UAE will also] allocate US$12 million for the next cycle of the fund, to be launched in January 2019…UAE foreign aid for renewable energy has reached nearly US$1 billion since 2013…[including] projects in 11 Pacific island countries…” click here for more

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