This project aims to remove barriers to renewable energy use 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. Due to the planned barrier removal activities, annual reductions of CO2 emissions is expected to be reduced by an estimated 388, 159 tons by the year 2007. 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 use.
Latin America and Caribbean