Teknoloji Haberleri internet Haberleri Web Güvenliği Teknoloji Yazılım Bilim Teqnoloji
EU supporting renewable energy in the Eastern Caribbean

Print

Tuesday, 21 November 2017

EU supporting renewable energy in the Eastern Caribbean

On 20 November, in New York, the Commissioner in charge of International Cooperation and Development, Neven Mimica and the President of the Caribbean Development Bank, Dr Warren Smith, announced the formalisation of an EU grant contribution to the Geothermal Risk Mitigation Programme for the Eastern Caribbean. The Programme will facilitate the development of up to 60MW of geothermal energy capacity in up to five countries – Dominica, Grenada, St. Kitts and Nevis, Saint Lucia, and St. Vincent and the Grenadines. Commissioner Mimica said: “The Programme will help to increase renewable energies in the Caribbean by supporting the development of geothermal energy. The EU grant contribution of €12 million will serve to jump start geothermal development through co-financing for higher-risk investments required at the early stage services of exploratory drilling, within a programme, which could leverage additional financing of approximately €400 million. It will decrease dependency on energy imports – reducing fuel import bills, electricity costs and help to decrease greenhouse gases emissions and other pollutants”. Dr Wm. Warren Smith, President, signing on behalf of CDB, noted: “The Bank welcomes the EU-CIF’s contribution to geothermal energy development in the Eastern Caribbean. This funding will add momentum to our ongoing efforts to transform the energy sector in the Region, and support our borrowing member countries in harnessing their renewable energy resources. The signing of this agreement represents a strengthening partnership between CDB and the European Union. We look forward to collaborating further to support economic growth and competitiveness, and creating a more sustainable future for the people of our Region.

Source: EU Delegation to the UN