{"id":19368,"date":"2021-11-18T21:16:34","date_gmt":"2021-11-19T02:16:34","guid":{"rendered":"https:\/\/projectcalls.com\/dev?p=19368"},"modified":"2021-11-16T11:20:49","modified_gmt":"2021-11-16T16:20:49","slug":"ofreg-to-auction-green-energy-projects","status":"publish","type":"post","link":"https:\/\/projectcalls.com\/dev\/ofreg-to-auction-green-energy-projects\/","title":{"rendered":"OfReg to auction green energy projects"},"content":{"rendered":"

Cayman Island<\/p>\n

(CNS): The utilities regulator has come up with a plan to enable potential energy producers to bid against each other to supply renewable energy through long-term contracts at the lowest possible price, officials have said. OfReg, which has been given responsibility for regulating the rollout of green energy, said it has been working on several initiatives to facilitate the addition of renewables into the local electricity market. Cayman\u2019s national energy policy calls for 70% of local power to be generated from green sources in just 15 years but at present only around 2% comes from renewables, presenting a gargantuan challenge.<\/p>\n

\u201cSignificant new investment in renewable technologies is still required in order to reach the 2037 target,\u201d the regulator said in the documents outlining the auction idea. \u201cThe office has determined to implement a Renewable Energy Auction Scheme (REAS) as a means of promoting a viable long-term renewable energy market that is of a sufficient scale to interest market participants, and can be easily integrated into a competitive electricity generation market.\u201d<\/p>\n

OfReg said it has ruled out renewable technologies such as biogas, biomass and geothermal because there are not enough projects to hold successful competitive auctions and to achieve economies of scale in most areas in the Cayman Islands.<\/p>\n

With just six responses from stakeholders, including CUC, to its first consultation and two cross-submissions during the public consultation, OfReg said that the auction concept is supported by those likely to bid.<\/p>\n

The Renewable Energy Auction Scheme will be opened early in the first part of 2022 and managed by the regulator. It will take into account OfReg\u2019s duty to promote appropriate, effective and fair competition, and to ensure that energy is provided at the least affordable cost to consumers, whilst simultaneously supporting environmental sustainability.<\/p>\n

\u201cThe REAS sets out the mechanism for the procurement of utility-scale renewables through a transparent, competitive and robust process,\u201d said OfReg CEO Malike Cummings. \u201cThe current Integrated Resource Plan projects 140 MW of utility-scale solar by the year 2030, and it is through the utilisation of tools such as the REAS we will be able to incentivise significant investments in renewable energy that will drive economic development and job creation in the Cayman Islands.\u201d<\/p>\n

The regulator said it is committed to a pipeline of auctions for solar and wind projects with defined capacity amounts. A minimum of 25MW of utility-scale solar renewable energy is available for allocation in 2021 with more megawatts going up for auction every couple of years in line with CUC\u2019s advice regarding how much can be absorbed into the grid. The firm auction date together with the respective amounts to be auctioned will be announced at least sixty days before each auction.<\/p>\n

\u00a0<\/p>\n

more\u00a0<\/a><\/p>\n

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image: pexels-pixabay<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Cayman Island (CNS): The utilities regulator has come up with a plan to enable potential energy producers to bid against each other to supply renewable energy through long-term contracts at…<\/p>\n","protected":false},"author":1091,"featured_media":19369,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[250],"tags":[267,224,268,269],"class_list":["post-19368","post","type-post","status-publish","format-standard","has-post-thumbnail","category-articles","tag-cayman-island","tag-project","tag-renewable","tag-solar"],"aioseo_notices":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2021\/11\/pexels-pixabay-159397-e1637173445847.jpg?fit=1406%2C830&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p6u9Qa-52o","jetpack_likes_enabled":true,"jetpack-related-posts":[{"id":23407,"url":"https:\/\/projectcalls.com\/dev\/solar-power-auction-proceeding-without-government-involvement\/","url_meta":{"origin":19368,"position":0},"title":"Solar power auction proceeding without government involvement","author":"Mayra Bonilla Lopez","date":"August 4, 2022","format":false,"excerpt":"Cayman Islands \u00a0 Plans for a new utility-scale solar plant are moving forward as regulators seek to kickstart Cayman\u2019s transition away from fossil fuels. Regulator OfReg says it is not waiting for government to produce the legislation and policy framework required to support Premier Wayne Panton\u2019s\u00a0recently-announced intention\u00a0to co-own renewable power\u2026","rel":"","context":"In "Articles"","block_context":{"text":"Articles","link":"https:\/\/projectcalls.com\/dev\/category\/articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/07\/Solar-panels-wind-mill-energy-electricity-Pixabay-Pexels.jpeg?fit=1024%2C682&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/07\/Solar-panels-wind-mill-energy-electricity-Pixabay-Pexels.jpeg?fit=1024%2C682&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/07\/Solar-panels-wind-mill-energy-electricity-Pixabay-Pexels.jpeg?fit=1024%2C682&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/07\/Solar-panels-wind-mill-energy-electricity-Pixabay-Pexels.jpeg?fit=1024%2C682&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":29502,"url":"https:\/\/projectcalls.com\/dev\/cayman-has-room-for-full-rollout-of-renewables\/","url_meta":{"origin":19368,"position":1},"title":"Cayman has room for full rollout of renewables","author":"Mayra Bonilla Lopez","date":"August 17, 2023","format":false,"excerpt":"Cayman Islands The suggestion that Cayman doesn\u2019t have room to accommodate enough solar panels or wind turbines to generate all of its power from renewables has been debunked in the government\u2019s new draft\u00a0National Energy Policy. The revised policy, which is even more ambitious than\u00a0the last one, has a target of\u2026","rel":"","context":"In "Articles"","block_context":{"text":"Articles","link":"https:\/\/projectcalls.com\/dev\/category\/articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2021\/04\/pexels-hoan-ngo%CC%A3c-6961112-scaled-e1675363854180.jpg?fit=1024%2C683&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2021\/04\/pexels-hoan-ngo%CC%A3c-6961112-scaled-e1675363854180.jpg?fit=1024%2C683&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2021\/04\/pexels-hoan-ngo%CC%A3c-6961112-scaled-e1675363854180.jpg?fit=1024%2C683&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2021\/04\/pexels-hoan-ngo%CC%A3c-6961112-scaled-e1675363854180.jpg?fit=1024%2C683&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":29718,"url":"https:\/\/projectcalls.com\/dev\/cayman-has-room-for-full-rollout-of-renewables-2\/","url_meta":{"origin":19368,"position":2},"title":"Cayman has room for full rollout of renewables","author":"Mayra Bonilla Lopez","date":"August 31, 2023","format":false,"excerpt":"Cayman Islands (CNS): The suggestion that Cayman doesn\u2019t have room to accommodate enough solar panels or wind turbines to generate all of its power from renewables has been debunked in the government\u2019s new draft\u00a0National Energy Policy. 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The Ministry of Sustainability and Climate Resiliency is looking for experts to conduct a twelve-week project to facilitate discussions around sustainability both in individual\u2026","rel":"","context":"In "Articles"","block_context":{"text":"Articles","link":"https:\/\/projectcalls.com\/dev\/category\/articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2023\/03\/pexels-akil-mazumder-1072824.jpg?fit=1024%2C682&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2023\/03\/pexels-akil-mazumder-1072824.jpg?fit=1024%2C682&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2023\/03\/pexels-akil-mazumder-1072824.jpg?fit=1024%2C682&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2023\/03\/pexels-akil-mazumder-1072824.jpg?fit=1024%2C682&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":7750,"url":"https:\/\/projectcalls.com\/dev\/cig-recruits-new-procurement-boss-from-uk\/","url_meta":{"origin":19368,"position":4},"title":"CIG recruits new procurement boss from UK","author":"Michele Marius","date":"January 3, 2019","format":false,"excerpt":"(CNS): The finance ministry has recruited a new director for the Central Procurement Office (CPO), which is tasked with\u00a0saving public money on necessary expenditure and ensuring value for money for the public purse by using appropriate procurement methods.\u00a0Taraq Bashir is from the UK but came to Cayman from Montserrat, where\u2026","rel":"","context":"In "News\/Developments"","block_context":{"text":"News\/Developments","link":"https:\/\/projectcalls.com\/dev\/category\/newsdevelopments\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/12\/Management-clipboard-calculator-Alpha-Stock-Images.jpg?fit=1024%2C683&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/12\/Management-clipboard-calculator-Alpha-Stock-Images.jpg?fit=1024%2C683&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/12\/Management-clipboard-calculator-Alpha-Stock-Images.jpg?fit=1024%2C683&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/12\/Management-clipboard-calculator-Alpha-Stock-Images.jpg?fit=1024%2C683&ssl=1&resize=700%2C400 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/posts\/19368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/users\/1091"}],"replies":[{"embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/comments?post=19368"}],"version-history":[{"count":1,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/posts\/19368\/revisions"}],"predecessor-version":[{"id":19370,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/posts\/19368\/revisions\/19370"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/media\/19369"}],"wp:attachment":[{"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/media?parent=19368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/categories?post=19368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/tags?post=19368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}