Leni Gas partners with UK firm to develop renewables in Cuba
Solar power system. Author: Mountain/ \Ash. License: Creative Commons, Attribution 2.0 Generic.
Cuban specialist investment firm Leni Gas Cuba Ltd said today it plans to co-develop renewable energy projects with UK-based Commercial Funded Solar Ltd (CFS) through a new joint venture.
The two parties have signed an agreement that outlines their plan to assess the potential for installing and operating renewable energy and hybrid power solutions in Cuba, including solar power, energy storage and integrated power management systems. Under the terms of the deal, they will share equally the development, funding and construction revenues for each project. CFS though will hold a 75% share in the long-term operational contracts for all systems.
“There is a real need for more energy supply in Cuba over the next decade as the country continues to grow its economy, and we see the renewable energy sector as an area the company would like to participate in,” said David Lenigas, chairman of Leni Gas Cuba.
The company mentioned that Cuba wants to be generating 24% of its power from renewable sources by 2030.