Cuba is opening up to new energy investments and international partnerships — from oil and gas to power generation and infrastructure — as it modernizes its energy sector and repositions itself in the regional landscape.
Australian explorer Melbana Energy, in partnership with Angola’s Sonangol, has made a major oil discovery in Block 9, drilling the Alameda-1 and Alameda-2 wells. The find is considered potentially transformative for Cuba’s upstream sector.Significance: Signals a turning point for Cuba’s hydrocarbon ambitions — enhancing energy security and attracting international upstream investment.
As a follow-up to earlier discoveries, Melbana began drilling Alameda-3 in December to assess deeper reservoirs (Alameda and Martí). Initial flow tests revealed promising pressure levels and classic Cuban oil characteristics, validating the basin’s potential.Significance: Demonstrates continuity and commitment to long-term development — paving the way for commercial production and increased foreign participation.
Cuba has signed agreements to develop 4,000 megawatts of solar photovoltaic capacity, following the International Renewable Energy Fair in Havana. Led by UNE, the initiative includes joint ventures with foreign investors and is valued at over $4 billion.Significance: Marks a major step toward energy diversification, positioning Cuba as an emerging player in renewables while reducing dependency on imported fuels.
