Eastern Caribbean geothermal program expands to $86.5m

The Sustainable Energy Facility for the Eastern Caribbean (SEF-Expanded) is designed to reduce the financial, technical, and institutional barriers to geothermal energy development in five Eastern Caribbean nations: Dominica, Grenada, St. Kitts and Nevis, ST. Lucia, and St. Vincent and the Grenadines.  Released in 2015, the SEF originally totalled $71.5m, but a recent injection of additional program funds brings the total to $86.5m. 

The SEF-Expanded programme aims to help de-risk geothermal energy projects, making it more likely that geothermal energy development attracts private investment and expertise, leverages other commercial debt resources, and allows for electricity tariffs to reflect an appropriate mix of concessional finance, commercial debt, and equity. A line of credit to the CDB will include resources from different donors, which the CDB will make available on-demand to meet the financing needs of the five participating Eastern Caribbean nations for unlocking geothermal development.