Digicel and NRG Energy, Inc. have announced a partnership to acquire, construct and operate renewable energy projects under development in the Caribbean. Both companies aim to own these projects for their lifetime.
NRG and Digicel are soliciting developers, governments, installers and others to provide information, through a request for proposal process, on renewable energy projects under development for possible investment, the firms said at Clinton Global Initiative conference in New York.
The RFP was formally launched on Sept. 30 and will end Nov. 15.
Colm Delves, Group CEO of Digicel, said distributed and utility-scale renewable energy projects can deliver a much lower cost of energy than fossil fuels, without subsidies.
“Our intent is to identify projects from across the region – and to support these in completing development, financing and construction. This will translate into substantive and lasting energy savings for the governments and people of the Caribbean.”
David Crane, chief executive officer of NRG, said NRG’s work in Haiti has demonstrated the transformative impact that renewable energy can have on communities that otherwise lack access to affordable, reliable electricity.
“We stand ready with Digicel to support the widespread adoption of renewables across the Caribbean, thereby helping to drive down electricity costs for the region and reducing the deleterious impacts of fossil fuel generation on the Caribbean ecosystem.”
He said, NRG envisions solar-led renewable medium to large-scale off-grid systems across the region.
“We understand a mix of technologies, from batteries to wind energy systems, will be necessary to offer the greatest financial and environmental benefits to Caribbean stakeholders, and we are open to supporting all systems with demonstrated performance history.”
The process is managed by CohnReznick Think Energy. The consulting firm focused on facilitating the growth of renewable energy by supporting transactions and providing due diligence and other advisory services.
NRG and Digicel said each project will be thoroughly reviewed by CohnReznick to ensure it meets all investment criteria.
To obtain a copy of the RFP, which includes all investment criteria, contact Helen Tocco at [email protected]