Topic: Cayman OTI

The renewable energy company Cayman OTI released a statement on Thursday disputing the characterization by the Utility Regulation and Competition Office (OfReg) that a proposed floating power plant in North Side would not produce energy at a reasonable price.

OTEC International LLC, through its subsidiary Cayman OTI, has lauded the Cayman Islands for the country’s efforts to move toward a more sustainable future.

Plans for a floating power plant that will harness solar energy stored in Cayman’s coastal waters are moving forward following the completion of an environmental impact study.

A Baltimore-based renewable-energy company has revealed a late-May accord with the Caribbean Utilities Company to generate approximately 8 percent of Cayman’s electricity using ocean-based technology that exploits variable water temperatures to create power.