BRIDGETOWN, 24 November – Representatives of the United Nations Industrial Development Organization, Barbados’ Ministry of Industry, International Business, Commerce and Small Business Development (MIICS) and the Caribbean Centre for Renewable Energy and Energy Efficiency (CCREEE) have gathered to discuss the creation of a cluster for sustainable energy and climate technology in Barbados.
The Global Environment Facility (GEF)-funded project, “Strategic platform to promote sustainable energy technology innovation, industrial development and entrepreneurship in Barbados”, will include the creation of a cluster to provide resources and space to domestic businesses, entrepreneurs and start-ups enabling them to work jointly on innovative energy island solutions with high market potential in the Caribbean. The businesses will be able to take advantage of flexible sharing arrangements to save costs, reduce risks, bundle lobbying power and sell products and services under one label.
In his opening statement, Stephen O'Malley, UN Resident Coordinator for Barbados, said, “We need to build domestic private sector capacities to ensure that the energy transformation becomes a motor for jobs and local value creation”.
Devon Gardner, Director of the Caribbean Community (CARICOM) Energy Unit, underlined the business opportunities created by the rapidly growing renewable energy, energy efficiency and climate technology investments in the Caribbean.