May 6 (SeeNews) - Four institutions including the US Department of Energy (DoE) have signed a pact to promote and support renewable energy, energy efficiency and low-carbon technologies in the Caribbean.
More specifically, the US DoE, the Inter-American Development Bank (IDB), the Caribbean Development Bank (CDB) and the Caribbean Community (CARICOM) have signed a memorandum of understanding (MoU) that outlines their planned collaboration with regional governments in the Caribbean on strategic projects, activities and programmes.
Specific areas of cooperation include: establishing energy efficiency policies and regulations; grid management; development and integration of renewable energy sources such as solar, wind and energy storage; the exploration of alternative sources of baseload fuels and the creation of mechanisms to support replacing diesel with cleaner sources like natural gas, geothermal, hydro, ocean and sustainable biomass for baseload power generation.
The four institutions are now working on an action plan to facilitate the implementation of the MoU.
“We will work together on the identification of financing and investment opportunities for pilot and commercial scale projects in sustainable energy and to support the Caribbean regional energy strategy,” said Luis Alberto Moreno, IDB’s president.