1 February 2010 - The Bahamas Renewable Energy Corporation (BREC) , a joint-venture between Schneider Power Caribbean Inc. (SNE) and WINSO Company Ltd. of Nassau, said it was notified by the Bahamas Electricity Corporation that it has been short listed under the Renewable Request for Proposal process and will proceed to the next stage. BREC has submitted proposals for three renewable power generation facilities totalling 24 MW, spread across three islands (New Providence, Abaco and Harbour Island).
Separately, Schneider Power Caribbean Inc. and Hervill S.A. of Santiago de los Caballeros, Dominican Republic announced the signing of a non-binding memorandum of understanding to form a joint-venture to launch the Dominican Renewable Energy Corporation Ltd. ("DR Energy"). DR Energy will initially target development of two wind projects totaling up to 200 MW. The contemplated wind projects are located near the town of Guzmanzitos, west of Puerto Plata. The Company is working towards finalizing its relevant permits and submitting its projects to the domestic feed-in-tariff program (Law on Renewable Energy Incentives and Special Regimes).