The Renewable Energy Industry in CARIFORUM Countries

INTRODUCTION | LITERATURE REVIEW

which may be applicable to the energy generation sector. Even though not seen as the only source of financing for the sector, multilateral development banks are seen as very important in the support of RE development from the point of view of funding projects, and also playing a role in developing potential public-private partnerships and de-risking projects which might otherwise not be attempted. The study did not look at the RE industry or the RE businesses which operate in the context of the local energy sector. Collectively, there is a significant amount of critical work that has been done regionally but little at the national level. Most governments have developed a policy document and very few have completed road maps, neither of which address the RE industry which would have developed post document development. In most cases, national studies focused on a single area. Some of the specific studies which have been done are: Environmental and Social Impact Assessment and feasibility for geothermal energy in Saint Lucia (2018) Geothermal feasibility, solar feasibility and Grenadine microgrid study for islands in St. Vincent (1990) Castillo study on potential increase of hydropower in Suriname (2019) RE study on intermittent supply in St. Kitts (2013) Geothermal energy in St. Kitts and Nevis (2019) Renewable Readiness Assessment and Energy Transition Initiative in Grenada (2013) Expansion of Biomass Cogeneration at the BELCOGEN power plant to use wild cane in 2019 for Belize (2019) Study on market understanding of the liberalization of the electricity sector and a Study on the RE stakeholder relationships in Barbados (2017) Regarding Guyana: Technology Needs, Assessment, Optimal 1. 2. 3. 4. 5. 6. 7. 8. 9.

history of US Caribbean cooperation is extensive and includes technical assistance in governance, the implementation of cleaner energy, capacity- building, workforce development, support for innovative approaches to low-carbon economic growth and nationally oriented programs focusing on specific in-country opportunities. The task force document references the Caribbean Energy Security Initiative (CESI) which seeks to enhance governance, improve access to energy finance, and increase donor coordination. Its programs are intended to support and complement the regional policy and strategy for sustainable energy, through the C-SERMS platform and the Caribbean Centre for Renewable Energy and Energy Efficiency (CCREEE) which is designed to address the implementation deficit in executing RE and EE projects and activities within CARICOM. This joint task force was also intended to provide a forum for the collaborative identification of challenges and opportunities for energy diversification, clean energy investment, regional energy cooperation and integration. Efforts were also focused on evaluating the scope for regional energy cooperation and identifying approaches to advance energy sector reform and integration within the respective countries. Specific areas include energy security, access to energy, human and economic development, and environmental and climate goals. These benefit from and contribute to sustainable, modern, clean and diversified energy sectors. While not ignoring local opportunities, the work of the task force was pitched at the regional level. Under the IDB climate change evaluation project, a study was conducted on the development of the RE markets in Latin America and the Caribbean. While it did not focus on the Caribbean alone, the study did present the barriers to the advancement of RE and the opportunities to overcome them. Also highlighted was the Caribbean’s vulnerability to climate change, and adaptation strategies

22

The Renewable Energy Industry in CARIFORUM Countries