Investors looking for yield may have found a fresh target in Caribbean-based clean-energy projects. Think solar, wind, and geothermal alternatives. Island governments are using the oil-price windfall to build fresh baseload capacity. In an unexpected twist, many projects offer enough caliber that they are crowding out traditionally-reliable deals in the dominant hospitality sector. One reason is that multilateral support of energy transactions is mitigating risk, bolstering confidence in a region where officials can skirt insolvency. The imperative is clear: The Caribbean has some of the highest electricity costs in the world because of an almost-unbelievable reliance on diesel and heavy fuel oil. ■
Learn more at the Jamaica Observer.
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