Solar dealer says Caribbean renewable energy rich

(CNS): Jay Yeo, President of Solamon Energy, which is building the largest solar energy plant in the Caribbean said the region possesses tremendous capacity for solar, geothermal, tidal and wind projects. Speaking at the Invest Caribbean Now power forum, in New York City earlier this month he said investment in renewables, especially solar, will not only lower the cost of energy across the region but help create more jobs than natural gas or coal. "Capital intensive renewable energy is an important vehicle to increase the inflow of capital into the Caribbean and achieve economic growth,” Yeo added.

His comments come as "Climatescope," the first annual report, index which scores nations on their relative ability to foster low-carbon energy growth in the region showed Brazil, Nicaragua and Panama grabbing chunks of investment in renewable but the Caribbean region way down the list. Successful entrepreneur Sir Richard Branson, was the inaugural Leadership Award recipient and he called on Caribbean people to work together to create an “entrepreneurial Paradise, in Paradise."