The Renewable Energy Industry in CARIFORUM Countries

RENEWABLE ENERGY INDUSTRY STAKEHOLDER ASSESSMENT

GRENADA

3.7.3 | FINANCIAL INSTITUTIONS

The financial institutions in Grenada are not very engaged with the other stakeholders. Commercial banks tend to treat RE requests like any other request and offer no preferential treatment. The RE Industry is also quite small and mostly self-financed. Consequently, the FIs currently play no significant role. In contrast, the Grenada Development Bank

is very supporting of RE projects. The bank offers a maximum loan amount of US$150,000 with an interest rate of 4.99% with up to 8 years to repay, with 100% project financing. Their relationship with the other key stakeholders is depicted in the diagram right.

LEAD GOVERNMENT MINISTRIES

PRIVATE SECTOR INSTITUTIONS

REGIONAL INSTITUTIONS

FINANCIAL INSTITUTIONS

UTILITIES REGULATOR

FUNDING AGENCIES

HIGHER EDUCATION INSTITUTIONS

RENEWABLE ENERGY COMPANIES

Figure 3.35 | Relationships of Grenada’s Financial Institutions

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The Renewable Energy Industry in CARIFORUM Countries