The Renewable Energy Industry in CARIFORUM Countries

RENEWABLE ENERGY INDUSTRY STAKEHOLDER ASSESSMENT

3.16.6 | CARICOM

The Caribbean Community (CARICOM) is a grouping of twenty countries; fifteen member states and five associate members. It was established initially on 4 July 1973 with the signing of the Treaty of Chaguaramas and later revised in 2002 to allow for the eventual establishment of the Caribbean Single Market and Economy (CSME). This group of countries plus Dominican Republic constitutes CARIFORUM. CARICOM rests on four main pillars: economic integration, foreign policy coordination, human and social development and security. The economic integration pillar in the context of the CSME has positive implications for the RE industry since this allows for easier access to this market by RE firms, equipment manufacturing and assembly companies. The Energy Unit in the Secretariat plays an important role within this regional institution along with several other institutions, some of which function directly or indirectly in the RE industry. They play a key role in two key regional programmes including: • The C-SERMS as mentioned previously in the sections on the regional approach and the literature review. • The Technical Assistance Programme for Sustainable Energy in the Caribbean (TAPSEC) which supports the Region’s transition to a low-carbon, sustainable and a climate compatible development pathway. It seeks to increase and improve access to modern, affordable and sustainable energy services for Caribbean citizens.

3.17 | FUNDING AGENCIES

There are several agencies indicated right, which provide some type of financing to the countries included in the study. This may include grants, low interest loans, equity financing, blended financing and other variations. While many are multilateral institutions, there are also regional and local development banks which vary in scope. The funding agencies’ relationships with the key stakeholders in the countries included in the study is shown right. Not all institutions cover the Dominican Republic.

LEAD GOVERNMENT MINISTRIES

HIGHER EDUCATION INSTITUTIONS

PRIVATE SECTOR INSTITUTIONS

FUNDING AGENCIES

FUNDING AGENCIES

FINANCIAL INSTITUTIONS

RENEWABLE ENERGY COMPANIES

UTILITY REGULATOR

Figure 3.81 | Relationships of Funding Agencies to Key Stakeholders in the Region

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The Renewable Energy Industry in CARIFORUM Countries