The PPF portal is coming soon. Expected launch date: November, 2020.
The Caribbean region is endowed with a wide variety of renewable resources from which clean energy can be harnessed but are currently underexploited. Although investment in sustainable energy infrastructure and technologies is growing in the region, the stunted growth will not ensure that the regional and national targets and goals are achieved.
In the Caribbean energy sector, successful project preparation is fraught with challenges across both the public and private sectors. In order for Caribbean Community (CARICOM) Member States to meet both regional and national energy targets, renewable energy and energy efficiency projects must be successfully developed and implemented. However, while there is a plethora of project plans currently in the region, there is a disconnect between the sustainable energy projects being conceptualised and the volume of untapped capital available for these types of projects, that must be bridged.
Faster and better project preparation is therefore needed to drive investment at the necessary speed and scale. The establishment of Project Preparation Facility (PPF) alongside financial innovations, capacity building, business promotion activities and ensuring a strong enabling environment (amongst others) can help accelerate investment in sustainable energy in the CARICOM.
Therefore, the main goal of the CCREEE Project Preparation Facility (PPF) is to address financial constraints, finance capacity and knowledge challenges impacting the development of sustainable energy projects. As the PPF is currently being designed and established it is envisaged to provide technical assistance, among other services, related to project preparation. The PPF will see the CCREEE channelling assistance to tackle barriers to the development of high-quality sustainable energy projects across CARICOM. The CCREEE will work with developers of projects from either the public or private sector in the region, who are looking to overcome financial and technical barriers along the project development process.
It will provide assistance to programme and project developers in advancing the development and implementation of their projects by supporting them through the provision of technical assistance and finance until they reach bankability stage. The CCREEE will have a pivotal role in managing the PPF and in the selection of the programmes or projects that will receive support. As the PPF develops and expands, it will support innovative local sustainable energy businesses and start-ups through the execution of calls for proposals; establishment and execution of a clean-tech programme to promote sustainable business innovations and by developing a manual and collecting lessons learnt from the deployment of energy start-ups.
The CCREEE PPF actions and activities strongly rely on the establishment of partnerships and collaboration agreements through which the Centre will match projects/programmes with the necessary financial support to develop them and therefore networking and developing strong formal and informal partnerships will be crucial to the success of the PPF.
Welcome to the CARICOM Energy Knowledge Hub, an information and knowledge management framework developed to ensure that appropriate, reliable and
high-quality information is available and accessible within the region.
An IRRP is a plan for how a country can supply its need for electricity for the foreseeable future. IRRPs are integrated because they consider many different resources to satisfy the need for electric power. These resources include power plants (diesel engines, gas turbines and hydro power plants etc.) and renewable energy sources, like solar farms, wind farms and geothermal power plants.