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Detail of GEF Project #840
| GEF Project ID | 840 |
| UNDP PMIS ID | 1437 |
| Funding Source | GEF Trust Fund |
| Project Name | Caribbean Renewable Energy Development Programme |
| Country | Regional |
| Region | Latin America and Caribbean |
| Focal Area | Climate Change |
| Operational Program | 6 |
| PDF-B Approval Date | 1998-09-30 |
| PDF-B(Supplemental Approval Date | 2002-05-21 |
| Approval Date | 2000-07-01 |
| CEO Endorsement Date | 2004-02-20 |
| GEF Agency Approval Date | 2004-02-26 |
| Project Completion Date | 2009-12-31 |
| Project Status | Project Completion |
| GEF Agency | UNDP |
| Executing Agency | CARICOM |
| Description | 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. |
| Implementation Status | Jan-March 2007: The PMU is currently working with the Organisation of Eastern Caribbean States (OECS) Secretariat towards the development of a Harmonised Renewable Energy Policy for the OECS member states. A Policy consultant has been hired to prepare the draft Policy which is based on the CREDP National Policy Framework (the policy Framework can be accessed on the CARIOM website at http://www.caricom.org.jsp/projects/credp.jsp). A workshop was also held during 5-7 March 2007 to facilitate the development of the said draft Policy. The next step is for CREDP to assist member states in tailoring the Harmonised document to the individual needs of each country. The PMU has re-focused its efforts to identify a suitable agency to perform the operational elements of the CRETAF given the CARICOM’s decision not to be the Facility Manager. A regional financial services organization has expressed an interest in being the Fund Manager and so efforts are underway to operationalise this arrangement. The PMU is working with CARILEC and Caribbean Solar Energy Society to develop further training activities under the capacity building component of the project. Activities have commenced to develop training courses for technicians. In addition, CEIS has submitted a proposal for teacher training in Renewable Energy and dialogue has commenced with the University of the West Indies towards the development of a Master’s programme. |
| PDF B Amount | 309,000 USD |
| GEF Project Grant | 4,076,000 USD |
| GEF Grant | 4,776,000 USD |
| Cofinancing Total | 12,450,000 USD |
| Project Cost | 17,226,000 USD |
| GEF Agency Fees | 382,000 USD |
| GEF Project (CEO Endo.) | 3,726,000 USD |
| Cofinancing Total (CEO Endo.) | 17,911,000 USD |
| Project Cost (CEO Endo.) | 22,337,000 USD |
| Project Documents |
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