EU backing for Barbados project: The European Union (EU) has put its weight behind the Renewstable Barbados (RSB) project that aims to integrate intermittent solar power with on-site green hydrogen storage to provide clean, reliable and round-the-clock (RTC) electricity supply for the Caribbean nation. To be located at Harrow Plantation in St. Philip, it will replace 13 MW of imported fossil-fuel generation with solar and battery storage, in combination with hydrogen storage. It is a joint initiative between the EU, Barbados and France’s HYDROGÈNE DE FRANCE (HDF Energy). On completion, it will supply electricity to 18,680 residential customers directly. The site will also accommodate a large-scale Blackbelly sheep farming facility to promote sheep grazing and green harvesting within the solar power plant and nearby areas.
The RSB project will ‘smoothly’ increase the existing renewable energy penetration on the national grid by close to 50% and contribute to the country’s target of 100% renewable energy by 2030. The International Finance Corporation (IFC), IDB Invest and the GCF are now joined by the European Investment Bank that will offer a combination of guarantees and investment grants for the project. Construction is planned to begin in February 2028 and commissioning in June 2028.
BRL 85 million bond financing in Brazil: French energy company GreenYellow has issued a new bond financing of BRL 85 million (over $14 million) to finance 5 decentralized solar energy projects in Brazil. Coordinated by the investment bank Itaú BBI, the financing process started in June 2024. The fund disbursement took place in December 2024, which will be used to refinance part of the investments already made in 5 solar plants. The issued bonds have a 16-year tenor. GreenYellow says it is among the first players to take advantage of Law 14801, adopted in March 2024. The Law 14801 facilitates investment in infrastructure projects via infrastructure debentures and tax incentives.
AFD loan for Dominican Republic project: France’s Agence Française de Développement (AFD) is supporting Spanish renewable energy multinational Ecoene to advance its 60 MW solar PV plant in the Dominican Republic. The Payita 1 Photovoltaic Plant is currently under development. The AFD is providing a $43.1 million loan to finance the project in the province of María Trinidad Sánchez, which meets the stringent sustainability standards of the International Finance Corporation (IFC). Ecoener has secured $142 million in revenue for this project over the next 15 years thanks to a long-term power purchase agreement (PPA) with distribution company Edenorte. Ecoener currently has 5 solar plants in operation or under construction in the Dominican Republic with the potential to produce 280 MW.
