to-the-point: IDB, CDB to channel USD 71m into East Caribbean sustainable energy

October 21 (SeeNews) - The Inter-American Development Bank (IDB) and the Caribbean Development Bank (CDB) will allocate USD 71.5 million (EUR 63m) to renewable energy, energy efficiency and institutional capacity in six eastern Caribbean countries.

The Sustainable Energy Facility (SEF) for the Eastern Caribbean, signed by the banks on Tuesday, will encourage public-private partnerships between geothermal power developers and the governments of Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia and St. Vincent and the Grenadines.

According to IDB's SEF team leader, Christiaan Gischler, geothermal power plants established in each of the eastern Caribbean countries with potential could generate a combined 60 MW, replacing diesel and fuel oil for power generation, with savings equivalent to 44% of oil imports or USD 56 million a year.

(USD 1 = EUR 0.881)

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Diana Hristova is our expert for Latin America. She has spent several years following the diverse industries in the region, the energy sector most of all. Now Diana is exploring Latin America’s huge wind, solar, geothermal and hydropower potential.

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