UAE to fund renewable projects on five islands

Following the February opening of the $50m UAE-Caribbean Renewable Energy Fund, the United Arab Emirates has selected the Funds first five projects in Antigua and Barbuda, the Bahamas, Barbados, Dominica, and St. Vincent and the Grenadines. According to the UAE, the projects symbolize what renewables and partnership can offer, particularly following Hurricane Irma. Barbuda will see immediate implementation of a “build back better” solar and battery solution, complementing a separate UAE-backed solar and wind project on Antigua. In the Bahamas and Barbados, diesel costs will experience some relief as solar arrays with EV chargers support the countries’ push into clean transportation. In Dominica, a major battery unit will enhance grid stability for the pioneering geothermal project and existing hydropower plants.  And in St Vincent and the Grenadines, a solar and battery solution will reduce power costs. 

The UAE Fund has also started the second round of project identification, with the aim to complete a project in each eligible Caribbean islands over the next three years.

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