Wide reaching MOU to foster renewable energy development in the Caribbean

Wide reaching MOU to foster renewable energy development in the Caribbean St. Vincent, Caribbean (source: flickr/ PlanetBarbados, creative commons)
Alexander Richter 9 May 2016

A recently signed MOU by IDB, CDB the U.S. DOE and CARICOM is to foster the clean energy market transformation in the Caribbean.

At a recent international meeting, the Inter-American Development Bank (IDB), the Caribbean Development Bank (CDB), the U.S. Department of Energy and the Caribbean Community (CARICOM) signed a memorandum of understanding that is to create a framework for cooperation to promote programs and activities that foster the transformation of the energy sector in the Caribbean.

The MOU seeks to increase energy security, reduce energy vulnerability, and promote renewable energy, energy efficiency, and low-carbon technologies in the region. The MOU ceremony in Washington, was attended by the heads-of-state of numerous Caribbean countries, including the Bahamas, Guyana, Jamaica, St. Kitts and Nevis, St. Vincent and the Grenadines, and Trinidad and Tobago.

The US DOE, IDB, CDB and CARICOM will collaborate to support strategic projects, activities and programs developed in cooperation with regional governments in the region. These projects include non-reimbursable technical assistance and programs to promote knowledge exchanges, capacity building activities and to mobilise technical expertise.

One can assume that this will include support for geothermal projects in the region.

Source: Caribbean Development Bank