In recent years, a range of stakeholders, including governments, development banks and official development assistance providers have made significant efforts to foster the inclusion of renewable energies in the Caribbean. These efforts include comprehensive planning processes, sectorial roadmaps and in some countries the adjustment of the institutional and regulatory framework. While these actions are key, there is a need to move from planning to action and thus to support the development of bankable renewable energy projects in the Caribbean.
To expand from assessment and planning to the effective implementation of renewable energy projects, the workshop presented tools and methodologies centred in assessing the renewable readiness in the Caribbean region, enhancing capacities in preparing bankable project proposals, and discussing the key setbacks and technical challenges associated with the implementation of renewable energy projects, as well as practices to evaluate and mitigate these risks.
The specific objectives pursued as part of this regional workshop included:
- Capacity building in the content, application and usefulness of the Quickscan for the development of sectorial analysis;
- Demonstrating how the Quickscan supports the identification of barriers to renewable energy deployment and opportunities for further assistance from development partners;
- Providing tailored support on the elaboration of bankable proposals for the Caribbean region based on Project Navigator guidelines towards structuring projects in a way that match expectations and needs of financiers;
- Sharing best practice experiences, including on micro-financing of renewables through dedicated coaching on how to pitch renewable energy projects to funding agencies.