In 2008, the European Commission signed a Financing Agreement with the Caribbean Forum of ACP States (CARIFORUM), providing for a grant of €1.5M to finance Project “Capacity Support for Sustainable Management of Energy Resources in the Caribbean Region (RPR/001/06rev) IX EDF”. This project which has been termed Caribbean Renewable Energy Capacity Support (CRECS) Project is being implemented through a Contribution Agreement with the CARICOM Secretariat. The implementation of the Project began in November 2010 was completed at the end of December 2012.
CRECS sought to build on the foundation laid by the Caribbean Renewable Energy Development Programme (CREDP) Project with some success. The following were the key Result areas:
RESULT 1: Strengthened Institutional Capacity To Support RE And To Address Barriers To RE Deployment.
Draft model regional electricity & energy supply legislations and supporting regulations, rules, etc, with RE focus, for Member States.
• Assist Member States in formulating primary and secondary national, electricity and energy supply legislation with RE focus and with ‘regional’ model legislation as guide (particllay achieved)
Support to Energy Programme to build awareness about renewable energy among critical actors in the energy sector and the wider economy
• Develop Model Regional Energy Awareness Programme, Train key persons in Member States in design and deployment of Programme, and produce RE Awareness materials
• Support the Staging of Energy Awareness Week in Six Members State with a focus on the important role of RE. (Achieved)
• Establish RE Programmes at Masters Level at UWI
• Stage fora to include other universities and tertiary educational institutions in the Region to adopt RE programme offerings based on work supported at UWI
• Support energy policy and strategy development in HAITI & Establish framework for continued support under Energy Programme
• Establish framework for south-south cooperation between energy sector of CARICOM and the Dominican Republic
RESULT 2: Increased Investment In Various RE Projects, Development Of National Industries And The Creation Of Jobs
• Review screen and update pipeline of RE projects & develop a portfolio of financing options relevant to each Member States;
• Coordinate & Stage energy investment forum in collaboration with other energy sector partners - targeting shortlisted sub-regional projects.
• Develop strategy and implement for national governments to encourage use of solar water heaters using the Barbados experience as model;
• Host Regional Workshop on Innovative Financing mechanism for RE and Risk Guarantee Mechanism with Input from Experts from Multi-Lateral Institutions
• Regional High Level Seminars - for Carbon Finance; Energy Investment Forum
• Support Preparation of RE Projects For Carbon Financing under CDM
For further information on CRECS Project please contact Energy Unit CARICOM Secretariat: energy@caricom.org
