US pledges to support alternative energy projects in the Caribbean

The United States says it will support the Caribbean in implementing alternative energy related projects. Global Power Sector Programme Manager, Bureau of Energy Resources at the US Department of State, Faith Corneille, said that over 70 projects have been identified that could receive technical assistance or finance. The projects were identified following an assessment conducted by Washington over the past year, with the support of consulting firm Deloitte, which looked on the market potential for private clean energy investment in the region. “This analysis has revealed that there are quite a number of investment opportunities across the Caribbean,” Corneille said at the alternative energy workshop that ends here on Wednesday. The assessment was in support of the Caribbean Energy Security Initiative (CESI), which aims to boost energy security and sustainable economic growth in the region by attracting investment in a range of energy technologies. Corneille said that the regional market assessment comprised outreach to lenders, banks and financiers, policymakers and project developers who also might be interested in a potential loan guarantee with the United States Agency for International Development’s (USAID) Development Credit Authority.