Update March 2017:
Cayman OTEC International is pleased to see the Cayman Islands moving forward with their new National Energy Policy (NEP). The NEP seeks 70% renewables in the next 20 years.
You can read the full report here: National Energy Policy 2017-2037
Update October 2016:
- Cayman OTEC International has completed negotiations of a power purchase agreement (“PPA”) with CUC to deliver 6.25 MW of renewable energy to Grand Cayman.
- The PPA was submitted to the Electric Regulatory Authority (ERA) for review and approval on May 25th of 2016. The Cayman OTEC project will be addressed in the ongoing CUC Integrated Resource Plan for Grand Cayman. It is expected that the IRP will be completed by CUC and submitted to ERA in 1Q2017.
- All studies required for the environmental impact assessment have been completed and the project consultants have substantially completed the draft report.
- Cayman OTEC is working with government to obtain all required permits and licenses in additional to ERA and environmental approvals and are optimistic that all required permits and approvals can be secured by 2Q or 3Q of 2017.
- Cayman OTEC believes that consistent, reliable and competitively priced power generated locally from the ocean can be an important part of Grand Cayman’s renewable energy portfolio.