Cuba planning to boost renewables to 24% by 2030 - report

Nov 10, 2014 - Cuba will seek to boost renewable energy to 24% of its power generation with investments exceeding USD 3.5 billion (EUR 2.8bn) in the next 15 years, reducing its dependence on energy imports, official daily Granma said Friday.

The local mix is currently dominated by fossil fuel, while renewable energy represents some 4%. The government plans to develop mainly biomass, wind, solar and hydro energy and to attract foreign investments.

By achieving its 24% target, Cuba expects to save fossil fuel worth nearly USD 780 million a year.

As for energy efficiency, the plan envisages implementation of over 133,000 solar water heating systems in homes, industrial facilities, hotels, hospitals and other institutions, as well as commercial distribution of photovoltaic panels and efficient light bulbs.

(USD 1 = EUR 0.801)

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