Cuba is set to significantly enhance its solar capacity by 65.6 MW by the end of 2025, supported by funding from the Abu Dhabi Fund for Development (ADFD). This ambitious project will introduce 65 MW of new capacity and revamp an existing 0.6 MW solar plant in Santiago de Cuba. This development marks a pivotal moment in Cuba’s renewable energy journey. For more information, visit Cuba solar capacity to Increase by 65.6 MW – PVKnowhow.
Project Details Driving the Cuba solar capacity increase
The Ministry of Energy and Mines in Cuba has announced plans to develop 65.6 MW of solar capacity by the end of 2025. The project is backed by a $60 million loan from ADFD, repayable over 18 years with favorable terms that include a 2% interest rate. This initiative involves building 65 MW of new solar capacity across 18 locations and upgrading an existing 0.6 MW plant in Santiago de Cuba.
The tender for this project was awarded to the Chinese solar company Risen Energy in May. Risen will provide 100 MW of solar panels, inverters, and other necessary equipment, and will oversee the installation process. This partnership underscores international collaboration in Cuba’s renewable energy sector, proving that despite economic sanctions, foreign investment is feasible.
Current Solar Capacity and Future Goals for Cuba solar capacity increase
At present, Cuba’s solar capacity stands at approximately 280 MW. The new project is part of a broader initiative to expand the country’s renewable energy infrastructure, aiming for 2.1 GW of solar capacity by 2030. Additionally, Cuba plans to develop 500 MW of wind power and 700 MW of biomass capacity by the same year.
Expanding solar capacity is crucial to Cuba’s strategy of reducing reliance on fossil fuels and increasing the proportion of renewables in its energy mix. The government has set a target of achieving a 37% share of renewables in the national energy mix by the decade’s end. For more insights into Cuba’s solar energy plans, visit Cuba solar energy Expansion: 65.6 MW Breakthrough in 2025.
Cuba is also preparing to issue more tenders for renewable energy capacity, focusing on additional solar and wind power projects to meet its 2030 renewable energy objectives.
Challenges and Opportunities in the Cuba solar capacity increase
Cuba’s solar expansion faces challenges, including difficulties in securing financing and attracting foreign investment due to economic sanctions and a complex regulatory environment. However, the successful partnership with ADFD and Risen Energy highlights the potential for international collaboration.
The $60 million loan from ADFD significantly boosts Cuba’s renewable energy ambitions. The loan’s 18-year term with favorable interest rates provides the country with the means to develop its solar infrastructure effectively.
The ongoing solar project, along with future tenders, is expected to play a crucial role in meeting these targets. By expanding its solar capacity, Cuba aims to reduce its dependence on imported fossil fuels, enhance energy security, and contribute to global efforts to combat climate change. For further reading on Cuba’s solar capacity growth, check out Cuba solar capacity increase: Stunning Growth to 130 MW by 2025.
