UAE-Caribbean Renewable Energy Fund to provide $34.5 million in grants

Dr. Thani bin Ahmed Al-Zeyoudi, UAE’s Minister of Climate Change and Environment confirmed the UAE will be providing $34.5 million in funding for renewable energy projects in the Caribbean located for enhanced resilience, and with technologies designed to withstand Category-5 hurricanes. This new funding is an addition to the $15 million in projects announced last year.

Minister Al Zeyoudi said, “The UAE is honoured to have partnered with over 30 island countries since 2013 to implement renewable energy projects that reduce energy costs and create jobs. Today’s announcement on our partnership in the Caribbean builds on this legacy, simultaneously expanding our cooperation into climate resilience.”

Plans will include 7 new projects in Belize, the Dominica Republic, Grenada, Guyana, Haiti, St Kitts and Nevis, and St Lucia. A further project will be focused on rebuilding the Barbuda’s power system, and will relocate and strengthen its main plant, adding a solar and battery solution.

“Hurricanes Irma and Maria were a wake-up call for us,” he later added. “We realised that the kind of projects we pursue had to change. As a result, we have implemented a resilience standard for all of our Caribbean projects that reflects the reality of climate vulnerability in the region.”