Background
In the Caribbean, conventional methods of electricity production, through fossil fuel plants, are among the most significant contributors to air, land and water pollution. They are the primary sources of greenhouse gas emissions.  The baseline statistics reveal that in 1997, 93% of the commercial electricity generation in the 16 Caribbean countries was from fossil fuels, resulting in emissions of approx. 21 million tons of carbon dioxide.

At the same time, the expansion of electricity generation is a key aspect to economic development in the Caribbean countries. Despite the Caribbean’s substantial renewable energy resources, exploitation lags far behind its potential. The main barriers to developing renewable energy technologies in the region are related to policy, finance, human and institutional capacities and a lack of awareness and information. All these barriers are inter-related and cannot be removed individually.

Objectives
The main objective of this project is to remove the existing barriers to developing renewable energy technologies in the Caribbean through various coordinated interventions at the national and regional level. Specific objectives are as follows:

• To support the implementation of policies, legislation and regulations towards creating an enabling environment for renewable energy development.
• To demonstrate innovative financing mechanisms for renewable energy products and projects.
• To build the capacity of selected players in the renewable energy field.
• To establish an improved regional renewable energy information network.


Achievements and expected results
Policies, legislation and regulations

• A National Energy Policy Framework has been prepared and disseminated.

Financing RE projects

• A Project pipeline of more than 16 projects has been identified after the screening of more than 43 projects. Two projects have been funded.

Capacity building

• Training courses for staff of energy ministries, electric utility companies, tertiary institutions, and private developers are being held. Courses include: Biogas for electricity, Combined Heat & Power for the sugar industry, Hydropower, Solar Water Heating, Wind Energy systems and electric grid integration, and RETScreen.

Improved energy information network

• A website for the project was established under the CARICOM Secretariat website: http://www.caricom.org/jsp/projects/credp.jsp.
• Two 16-minute DVDs have been created: “Banking on Nature” which highlights successful RE commercial ventures in the region and how they obtained their initial financing; and “Securing Renewable Energy” which describes the Caribbean Renewable Energy Technical Assistance Facility (CRETAF), a revolving loan instrument for developers. 
Brochures on CREDP and CRETAF were produced and disseminated.

Last Revised:  February 2008