Barbados fund commits to financing energy sector

Barbados’ Enterprise Growth Fund Limited (EGFL) has funded $15.9 million worth of energy projects through its Energy Smart Fund.

Mr. Timothy Simmons, the fund’s CEO has reported substantial progress of the renewable energy sector in Barbados, in part supported by the Energy Smart fund.

The EGFL funds renewable energy projects for a company, and reduces the risk of investing in renewable and clean energy.

“We are in tough economic times but there are some green shoots. We have had a lot of interest in the renewable energy sector. As a matter of fact, that is where we have most of our action across the various sectors,” added Mr. Simmons. “Our funding interventions have assisted in creating or maintaining approximately 3,000 jobs. It is noted that our funding in the tourism sector has supported the expansion and modernization of approximately 1,200 hotel rooms.”