Caribbean Efficient and Green Energy in Buildings Project launched; unites sustainable energy and pooled procurement for a greener OECS
Caribbean
The Organisation of Eastern Caribbean States (OECS) Commission joined Grenada, Saint Lucia and Guyana, the World Bank and the Caribbean Centre for Renewable Energy and Energy Efficiency (CCREEE) for the kickoff meeting to formally launch the Caribbean Efficient and Green Energy Buildings Project — termed the CEGEB project — a transformative regional initiative designed to accelerate the adoption of sustainable energy solutions and energy-efficient practices across public buildings in the participating countries.
The five-year project funded by the World Bank to the tune of US$131.8 million (approximately EC$356.2 million) represents a combination of grants and loans that will allow governments to demonstrate leadership in sustainable energy and the associated benefits. Under the project, close to 500 buildings will be retrofitted with energy efficiency measures and an estimated 50,670 kWp (kilowatt-peak) of solar photovoltaics is anticipated to be installed.
The CEGEB project also builds on the OECS Commission’s strong track record in pooled procurement, which for over 30 years has enabled Member States to access critical pharmaceutical drugs and medical supplies more efficiently and cost-effectively through a collaborative approach. By extending this model to the sustainable energy sector, the OECS Commission aims to leverage an aggregated demand to provide economies of scale, resulting in more affordable sustainable energy solutions for the region. This approach is also expected to stimulate the development of a regional market for energy-efficient technologies, create local green jobs, and strengthen the capacity of public and private stakeholders to manage and maintain green energy solutions.
Image: pexels-alena-koval