Caribbean News
PM announces $885m Solar Energy Investment for Amerindian Villages at NTC Conference
In highlighting the ongoing transformation, the Prime Minister referenced Upper Takutu-Upper Essequibo (Region 9), which currently has an installed generation capacity of 5.2 megawatts through a combination of fossil fuel generator sets, hydropower, and solar installations. However, only two megawatts are currently in use. According to the Prime Minister, this underutilised capacity presents significant potential for the development of agro-processing and micro-enterprise initiatives. He noted that such opportunities could support the growth of small-scale industries and value-added production, particularly in mango and cashew processing within the region.
The Prime Minister also highlighted several additional measures aimed at improving the lives and livelihoods of residents in the hinterland. He spoke of initiatives to enhance ICT connectivity and the opportunities this would bring.
“I’m using Region Nine as an example to show that we are serious about development in your communities. You are connected to the rest of Guyana through ICT; you are connected to the world, to the future. That is how we improve the delivery of medical services and education. Because you are now connected, you could access universities and colleges throughout the world.”
He reminded attendees that through this level of connectivity, many individuals from the hinterland have enrolled in the Guyana Online Academy of Learning (GOAL) scholarship programme, while others have already graduated, thanks to the Government’s transformative agenda.
Meanwhile, the heads of the Guyana Energy Agency (GEA), the National Data Management Authority (NDMA), and the ICT Access for Hinterland Poor and Remote Communities (HPRC) Project Management Unit—all under the purview of the Prime Minister—provided comprehensive updates on the Government’s ongoing efforts to expand energy access, enhance digital infrastructure, and foster innovation and empowerment across Amerindian communities.
The GEA reported that, over the last five years, 37,230 solar home systems have been procured, primarily for hinterland households.
Additionally, 55 solar mini-grid installations are supplying more than 2.15 megawatts of electricity to schools, health facilities, village offices, and other public infrastructure. Noteworthy projects include the 1.5-megawatt and 0.65-megawatt solar farms in Bartica (Region Seven) and Mahdia (Region Eight), respectively, along with a 1-megawatt solar plant in Lethem (Region Nine). The Moco Moco and Kumu hydropower projects are also contributing to Region Nine’s energy grid. These interventions are reducing diesel dependence, lowering emissions, and improving access to essential public services.
The NDMA reported that 228 of the 253 targeted hinterland and Amerindian communities have been connected to high-speed internet under the Government’s 2024 connectivity rollout, benefitting more than 129,000 residents. These installations include government buildings, as well as 139 operational ICT hubs. The remaining 25 communities, which initially lacked reliable power or suitable facilities, are expected to be connected by August 2025 through specially designed solar-powered solutions.
To date, over 1,900 residents across 70 communities have participated in digital literacy and cybersecurity awareness training. These sessions cover critical topics such as safe browsing, password protection, and access to government e-services. The “Girls in ICT” initiative has also expanded into Region Nine, with completed sessions in communities such as St Ignatius and Aishalton. Additional training is planned for the year as part of the Government’s broader push for digital inclusion and youth empowerment.
The Office of the Prime Minister, through the HPRC Project Management Unit, reported that 140 ICT hubs have been completed to date. Of these, 10 are currently being retrofitted with digital equipment, while 30 hubs remain under construction. A further 20 hubs are slated for development, bringing the national total to 200 ICT hubs once fully implemented. These facilities are being equipped with laptops, printers, smart TVs, solar power systems, and security infrastructure to support digital access in remote communities.
To sustain these hubs, 192 ICT Hub Managers have been trained in areas such as ICT operations, facility management, and photovoltaic maintenance. Additionally, 32 ICT technicians have received professional certification in computer repairs, software configuration, and network systems. Approximately 1,518 community members have already benefitted from basic ICT training, with the programme aiming to reach 4,000 beneficiaries nationwide.
Under the grant component of the HPRC project, 180 Amerindian Village Councils and Community Development Councils have received funding of up to USD $40,000 per community to support the establishment and operation of these hubs. These grants are fostering employment creation, stimulating economic activity, and ensuring long-term sustainability at the community level.
Collectively, these initiatives are laying the foundation for a digitally inclusive and energy-resilient hinterland.
By Deandrea Hamilton | Editor
September 28, 2026 – Wall Street initially flinched at the $3-billion handshake. But in a matter of days, it was smoother sailing.
Perhaps the bigger Caribbean business story is not what Sandals Resorts International is getting from the deal. It is who is writing the
cheque — and what that says about what Gordon “Butch” Stewart built.
As reports of Royal Caribbean Group’s Sandals deal circulated Tuesday, RCL shares plunged 6.14 percent from Monday’s $250.25 close to $234.89, on sharply elevated trading.
When the agreement became official Wednesday — approximately $3 billion for a 50 percent equity interest in Sandals and Beaches Resorts — shares slipped another 1.95 percent to $230.30 and touched $222.22 intraday. Investors were digesting both the size of the investment and committed debt financing secured through Morgan Stanley.
But by Thursday, RCL rebounded 3.77 percent, with shares continuing their recovery Friday to finish the week around $243. Analysts were also looking ahead: JPMorgan reportedly raised its RCL price target from $345 to $394, while Citi placed the company on a 90-day positive catalyst watch.
And just who is RCL?
Royal Caribbean Group is a global vacation giant, publicly traded on the New York Stock Exchange with a market value of roughly $65 billion. Its portfolio includes Royal Caribbean International, Celebrity Cruises and Silversea, alongside private destinations and an
expanding vacation platform.
So when a company of that scale commits $3 billion for only half of Sandals and Beaches Resorts, the transaction puts a striking financial marker on one of the Caribbean’s greatest home-grown hospitality success stories.
The deal, expected to close in early 2027, creates a 50-50 partnership with the Stewart family and takes Royal Caribbean deeper into the all-inclusive resort business.
Butch Stewart started Sandals in Jamaica in 1981 believing a Caribbean company could compete with the world’s best.
Forty-five years later, one of the world’s biggest vacation companies is prepared to pay $3 billion just to own half of what he built.
Now that’s the handshake that does more than seal a deal — it cements a legacy.
Caribbean News
Royal Caribbean Group and Sandals Resorts Announce Landmark Partnership to Accelerate Their Leading Vacation Experiences
Royal Caribbean Group Investment to Advance Sandals and Beaches’ Growth and Broaden the Group’s Vacation Portfolio
Montego Bay, Jamaica and Miami, September 24, 2026 – Royal Caribbean Group (NYSE: RCL) and Sandals Resorts today announced the signing of an agreement to form a partnership in the all-inclusive resort space with a 50% investment from Royal Caribbean Group. Building on Sandals and Beaches Resorts’ more than four decades of leadership in Caribbean hospitality, the joint venture will create new opportunities for continued resort growth while broadening the experiences across Royal Caribbean Group’s vacation platform.
The partnership brings together two of the travel industry’s most celebrated vacation companies, pairing Sandals and Beaches’ all-inclusive resort expertise with Royal Caribbean Group’s vacation platform, including industry-leading brands – Royal Caribbean, Celebrity Cruises and Silversea – a portfolio of private destinations, new river cruising offering, and an industry-first loyalty program. United in a shared history in the Caribbean and connected by a love for their communities, the companies will offer travelers an unparalleled collection of cruise, private destination and resort experiences, serving guests across more vacation occasions and establishing their undisputed leadership in Caribbean vacations.
The joint venture expands Royal Caribbean Group into an adjacent vacation category, growing its participation in the approximately $2 trillion global vacation market, and meets the growing global demand for Sandals and Beaches Resorts by accelerating their expansion. The partnership will include Sandals and Beaches’ collection of premier all-inclusive properties across the Caribbean, and the companies will explore opportunities to broaden distribution, deepen guest engagement, and make it easier for travelers to discover vacation experiences offered across both portfolios.
“For nearly 60 years, we’ve reimagined what a vacation can be, constantly expanding the ways we inspire our guests to explore, connect and create lifelong memories,” said Jason Liberty, Chairman and CEO, Royal Caribbean Group. “We have been building a vacation platform that brings joy to millions of people around the world and creates meaningful relationships that last with our guests. Our partnership with
Sandals and Beaches Resorts is an important next step on that journey – bringing together two iconic leading vacation companies to further strengthen and grow one of the most admired resort portfolios in the world. The Stewart family has created powerful and beloved brands, and we are honored to build on that legacy. Together, we see tremendous opportunity to expand the reach of Sandals and Beaches Resorts and continue turning the vacation of a lifetime into a lifetime of vacations.”
“My father, Gordon ‘Butch’ Stewart, founded Sandals Resorts with the belief that a company built in the Caribbean could stand on the world stage alongside the most respected names in hospitality. Today is proof of how far that vision can go,” said Adam Stewart, Executive Chairman of Sandals Resorts and Beaches Resorts. “This partnership is the natural next step in building on that conviction. It gives us the ability to grow faster with a partner that shares our values of exceptional hospitality, long-term investment, and the power of enduring brands. Together, we will introduce more guests to Sandals and Beaches Resorts while creating even more extraordinary experiences for those who have made our resorts part of their lives for decades.” Stewart added, “As we continue to grow, we will remain true to what has always defined us: delivering authentic vacations that exceed expectations while creating opportunities for our team members, travel advisor partners and the communities we call home. The future has never been brighter, and I know this moment would make my father incredibly proud.”
The joint venture will be governed by a board under the shared leadership of Stewart and Liberty. Stewart will maintain a leadership role in
guiding the company’s long-term strategic growth as Executive Chairman of Sandals and Beaches Resorts. Existing reservations, loyalty programs, resort operations and cruise operations will continue as usual, with the partnership bringing additional resources to support future opportunities.
Under the terms of the agreement, Royal Caribbean Group will acquire a 50% equity interest in Sandals and Beaches Resorts for approximately $3 billion, representing a forward EBITDA multiple of approximately 10x. Royal Caribbean Group has secured committed debt financing from Morgan Stanley to fund the investment. The transaction is expected to close in early 2027, subject to customary approvals and closing conditions, and is expected to be accretive to earnings next year.
BofA Securities and PJT Partners acted as financial advisors, and Latham & Watkins and Jones Day acted as legal advisors to the Sandals Group. Perella Weinberg Partners and Morgan Stanley acted as financial advisors and Kirkland & Ellis LLP acted as legal advisor to Royal Caribbean Group.
PHOTO CAPTION: Jason Liberty, Chairman and CEO of Royal Caribbean Group, and Adam Stewart, Executive Chairman of Sandals Resorts, mark the signing of an agreement to form a landmark partnership that expands Royal Caribbean Group into the all-inclusive resort space and supports the future growth of Sandals and Beaches Resorts. The signing took place at Royal Caribbean Group’s new headquarters in Miami, with the city’s skyline in the background.
The Caribbean tourism deal first reported as a possibility on Tuesday is now a signed agreement. Royal Caribbean Group plans to pay
approximately US$3 billion for a 50% stake in Sandals and Beaches Resorts, putting the value of the business at about US$6 billion. The purchase is expected to close in early 2027, subject to approvals.
Founded in Jamaica by the late Gordon “Butch” Stewart in 1981, the resort business has a presence across nine Caribbean destinations, including Jamaica, The Bahamas and Turks and Caicos. Sandals has described its workforce as nearly 20,000 people, most of them Caribbean nationals.
“My father, Gordon ‘Butch’ Stewart, founded Sandals Resorts with the belief that a company built in the Caribbean could stand on the world stage alongside the most respected names in hospitality,” said Adam Stewart in the announcement carried by PR Newswire. He will remain executive chairman, while the Stewart family retains a stake. The companies say existing reservations and resort operations will continue as usual.
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