IRENA-Caribbean Cooperation for Fostering Energy Transition

From May 30th to June 1st 2023, the Government of Barbados and the International Renewable Energy Agency (IRENA), through the SIDS Lighthouses Initiative, co-hosted an event on the IRENA-Caribbean Cooperation for Fostering Energy Transition Investments and Finance to bring together key stakeholders in the Caribbean region towards accelerating energy transition investments, moving beyond pledges to action and closing the financing gap.

The event addressed issues pertaining to the development and the sustainability of a robust, feasible and bankable renewable energy project pipelines which respond directly to country needs and engender interest and investment. It also assisted project developers in the preparation of bankable projects, address administrative processes in accessing financing and provide an opportunity to share best practices of renewable energy financing, implementation, and its impacts in the Caribbean.

IRENA sought close collaborations with regional organizations and financial institutions that have the mandate to promote energy transition actions in the region. The event provided an opportunity for the Leaders, policymakers, regulators, power utilities, private sector, project developers and financing partners to address issues constraining the deployment of energy transition technologies driven by renewables, and commence the brokerage process of deploying the appropriate investment for renewable energy projects in the Caribbean whilst building the momentum towards implementation.

See the agenda here.

Opening session, The Status of the Caribbean Energy Transition – Priorities and Investment Needs, Creating Enabling Frameworks Conducive to Energy Transition Investments in Caribbean SIDS

High-level panel discussion – Innovative financing instruments for climate projects in SIDS, Empowering Lives and Livelihoods through Renewable Energy