30.10.2013: The Caribbean Utilities Co. Ltd. (CUC), the only public utility in Grand Cayman, has selected two US-based independent power producers to build megawatt-size solar and wind power generation facilities in Grand Cayman. The two developers were selected through a request for proposals issued in August 2011 for the financing, construction, ownership and operation of renewable energy generation facilities. New Generation Power was selected to build a 5 MW solar park and a 3 MW wind power facility, while International Electric Power LLC was chosen to build a 5 MW solar park. The total development and construction cost of these projects is expected to be approximately 30 million KYD ($36 million). CUC and the developers are currently negotiating power purchase agreements, but purchase prices are expected to range from approximately 0.14 to 0.20 KYD per kWh, which is between 4.5 and 10.5 CI cents lower than the per kWh cost of diesel fuel. The projects are expected to be completed in the first quarter of 2015, assuming permitting and regulatory approval goes as planned. © PHOTON http://www.cuc-cayman.com http://www.cuc-cayman.com/powerpanel/modules/pressrelease/html/uploads
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