Investors Forum in Havana
On September 1st and 2nd, the Cuba 2016 Energy & Infrastructure Summit was held in Havana, Cuba. This forum brought together approximately 80 foreigner participants interested in energy sector investment opportunities in Cuba.
The Cuban government established in its programmatic documents the need to move towards an energy matrix that is covered by 24% from renewable energy technologies by 2030. In the Havana forum, moreover, Rosell Guerra, Director of Renewable Energy of the Ministry of Energy and Mines, said that the government's intention was to give this change a "sense of urgency", making clear the will to accelerate the process as much as possible.
Cuba Strategies was part of the forum and we had the opportunity to share with Cuban exhibitors, as well as with potential investors interested in energy opportunities in the island. The main concerns related to Power Purchase Agreement (PPA) contracts rates, rates that would be individually negotiated according to Cuban officials. Other concerns related to financial transactions and the opportunity to secure investment insurance.
The forum was a unique opportunity to integrate investors with decision makers from Cuban institutions in an atmosphere of cordiality and transparency. Outstanding issues raised at the conference will be addressed at Cuba Strategies’ upcoming event, Energizing Cuba www.energizingcuba.com.