☀️ Cayman Islands' power provider warns of looming energy crisis

Richard Hew, the CEO of the Cayman Islands' electricity provider, CUC, has warned of an impending power generation crisis due to the island's rapidly growing population and the company's inability to meet peak demand with its current diesel generators. CUC has been resorting to temporary, leased machines to meet demand, but cannot invest further in diesel generators due to the national energy plan's goal of transitioning to 70% renewable energy by 2037. Currently, only 3% of the island's power comes from green sources. 🌴

Hew argues that the transition to green energy requires investment in utility-scale solar, which he believes will be more cost-effective than domestic renewable equipment such as solar panels and wind turbines. He expressed frustration with the slow progress of the Utility Regulation and Competition Office (OfReg) in approving a utility-scale solar project. Hew also highlighted the need for a large-scale solar farm combined with battery storage to meet the national energy policy's targets, reduce energy costs, and ensure a consistent power supply. ⚡

CUC is also in the process of adapting some of its existing generators to use LNG as a transitional backup to renewables. Despite the controversy surrounding this decision, Hew maintains that 100% green technology is not yet achievable and that gas is cleaner and cheaper than diesel in the long run. The company is also awaiting the green light to develop its own utility-scale project or purchase from the winning bidder. However, the bid for the solar project has not yet been opened by OfReg, leading to CUC's reliance on leased generators to meet peak demand. 🌞