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Setting up a business in Trinidad and Tobago is quite straight forward.
The Government of the Republic of Trinidad & Tobago (GORTT) encourages foreign direct investment in almost all sectors, with specific focus on the non-energy targeted sectors.
Trinidad and Tobago's success in energy has fueled its rapid development into one of the most industrialized and cost-effective nations in the Caribbean and Central America.
Trinidad and Tobago is a twin island republic situated below the hurricane belt, at the southern-most end of the Caribbean archipelago.
Edan K. Properties manages many complex projects - from purchase to conceptualization, financing and site development. In its role as facilitator, InvesTT has worked alongside Edan K. and played a significant role over the years in the fast-tracking of processes required to implement multi-faceted development projects.
InvesTT facilitated company registration and access to import duty concessions for equipment, engaged the Ministry of Energy & Energy Industries on the placement and inspection of their LPG tanks as well as facilitated smooth entry at Immigration for foreign engineers needed to install equipment and train local staff.
Located in St. Augustine Trinidad, Virtana Inc. is an outsourcing company that delivers high quality robotics software solutions to international technology companies, utilizing engineering graduates based in Trinidad and Tobago.
With a target of 30% of electricity from renewable sources by 2030, Trinidad and Tobago has placed a focus on solar PV and wind (offshore and onshore) energy electricity generation. Trinidad and Tobago has favourable solar irradiation levels and being an island there is particular interest in offshore wind energy technology deployment.
(Key source of page information - National Energy Corporation of Trinidad and Tobago)
Manufacturing of solar and wind components
Trinidad and Tobago is positioned to become a manufacturing centre for renewable energy components for the solar and wind energy industry which would support the growing demand in the Caribbean and other end markets in the Americas. The International Renewable Energy Agency (IRENA) forecasts that Latin America and the Caribbean will grow their installed solar capacity by a factor of 40 by 2050. To service this demand, Trinidad and Tobago proposes a manufacturing cluster to ensure synergies and cost efficiencies.
Green hydrogen and Green chemicals
Trinidad and Tobago’s industry is highly specialised in gas and oil with the corresponding infrastructure and a focus on ammonia and methanol production. Trinidad and Tobago and the Caribbean region have significant renewable energy potential. These factors facilitate a fantastic opportunity for the development of the green hydrogen economy with production of green chemicals, with the country’s strong petrochemical industry as a foundation. The first low-carbon hydrogen production facility in Trinidad and Tobago is currently under development.
Energy Storage — Battery Assembly
Energy storage is a rapidly growing segment of the clean energy sector, and prices have dropped dramatically over the years. According to Wood Mackenzie’s 2020 Global Storage Outlook, deployments will grow 13-fold from a 12-gigawatt-hour market in 2018 to a 158-gigawatt-hour market in 2024. Trinidad and Tobago invites potential investors to propose battery component assembly and manufacturing projects as well as energy storage projects.
For further information on investing in Trinidad and Tobago's manufacturing industries please review our investment guide here.
InvesTT Investment Guide 2022 by iuGO Digital - Issuu
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