ASP’s own Andrew Holland spoke to Environment & Energy Publishing about the significant challenges facing American businesses wishing to supply clean energy in the Cuban market.
“The bureaucratics around this could take away the first-mover advantage for American companies.”
“I would have thought that within the government there would be this sense of ‘what is the opening and what can we do,’ but so far we’re not getting that.”
This would be a valuable opportunity for American energy companies, as the Cuban Government expects to spend around $3.5 billion on renewable energy projects in the near future. As Holland noted, the legal barriers complicating American investment in Cuba still need to be resolved, including a Congressional mandate that the United States oppose Cuba’s reentry into the International Monetary Fund, the World Bank, and other multilateral banks.