Caribbean Renewable Energy Development Programme

This project aims at removing barriers to renewable energy utilisation in the Caribbean. Through specific actions to overcome policy, finance, capacity and awareness barriers it is estimated that the contribution of renewable energy sources to the region's energy balance will be significantly increased. Currently, renewable energy provides less than 2% of the region's commercial electricity. It is estimated that due to the planned barrier removal activities the share of renewable energy could reach 5% by 2015. This would imply annual reductions of CO2 emissions by some 680,000 tons. Part of the GEF funding will be used through non-grant instruments to remove incremental risks related to RE investments thus improving the cost-effectiveness of the GEF resource utilisation. Participating countries: Antigua and Barbuda, the Bahamas, Barbados, Belize, British Virgin Islands, Cuba, Dominica, Grenada, Guyana, Jamaica, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines, Suriname, Trinidad and Tobago and Turks and Caicos.