Tag: Richard Hew
CUC seeks 100MW of solar energy and storage for 2027
(CNS): With an eye on the National Energy Policy targets and the increase in demand for power, CUC has made an application to OfReg for a Certificate of Need (CON) for 131 megawatts of generating capacity, which includes 100MW of solar and storage. The remaining 31MW will be generated from fossil fuels, either diesel or […]
Utility solar needed to avert power crisis, says CUC boss
(CNS): Richard Hew, the president and CEO of CUC, Grand Cayman’s electricity provider, has warned that the island is facing a power generation crisis because the company has surpassed its ability to meet peak demand with its existing fixed diesel generators and is currently resorting to temporary, leased machines to meet it. With the rapid […]
CUC earnings increased by 34% this summer
(CNS): An increase in the number of customers and record-breaking heat pushed CUC’s earnings up by $3.5 million over the third quarter of this year compared to the same period in 2022. According to its Q3 report, Grand Cayman’s power provider earned almost $14 million over the summer after a 2% increase in customers and […]
Policy falls short of a legal right to green energy
(CNS): The draft updated National Energy Policy includes changes promoting more equitable access to green energy sources. But officials have said the proposed new implementation plan only considers consumers’ right to access the national grid but doesn’t mandate it. Fourteen years after the CORE programme began, only 3.5% of local power comes from renewables, and […]
CUC starts 2023 with profit of $5.2M
(CNS): CUC’s unaudited results for the first three months of 2023 saw the monopoly power provider start the year with a profit of $5.2 million. This was a slight drop in net earnings in the first quarter of last year due to increased financing, depreciation and other general costs. However, both sales and customers grew […]
Sol owners want $500k donation spent on security
(CNS): The Simpson Group, the owners of Sol, one of the two suppliers of fuel to the Cayman Islands, has pledged to make a donation of US$1 million to the R3 Cayman Foundation, created by Ken Dart, and is asking that half the money is spent on national security projects. Sol MD David Simpson said […]
Only 3% of 2020 power will be green
(CNS): As 2020 draws to a close, the president of CUC has said he expects the total percentage of power used in Cayman this year generated through green technology will just about reach 3%. With just 16 years to get to the government’s energy policy target of 70% of the islands’ electricity being generated through […]
CUC boss says future of power is solar
(CNS): Whether solar panels in the Cayman Islands should be mainly located on rooftops or on land farms to meet the proposed energy goals may be up for debate, but Richard Hew, the CEO of Caribbean Utilities Company (CUC), is certain that the sun will provide the country’s future power needs. Appearing before the Public […]
New generator to cut costs, firm-up supply
(CNS): A new generator at Caribbean Utilities Company (CUC) will help the local power supplier meet the growing demand for electricity at a reduced cost and, despite being diesel-powered, in a more environmentally friendly way. The 40-megawatt generator was described by officials as the most efficient diesel power plant in the Caribbean when it was […]
