Barbados - New Energy Events

The Green Climate Fund (GCF) and IFC team up to invest in increasing energy grid resilience in Barbados
October 27, 2023
The Green Climate Fund (GCF) has approved the provision of up to $41 million in blended concessional financing to support IFC’s proposed investment in RenewStable Barbados, a 50 MW solar generation facility with green hydrogen and lithium-ion battery storage that will provide clean and stable electricity to the Barbadian grid. Source: Pressroom IFC
CAF plans to expand operations in the Caribbean
August 17, 2023
CAF announced its plan to expand operations in the Caribbean to address the financial needs of the region. They also announced they will finance up to US$50 million to match Barbados funding pool in its blue economy initiative. Source: Trinidad Express
Barbados regulators order 50 MW BESS pilot in an effort to support rapid decarbonization by 2030
August 3, 2023
Regulators in Barbados ordered a 50 MW BESS pilot in an effort to reach its ambitious goal of becoming 100% renewable energy and carbon neutral economy by 2030. Source: Energy Storage
CAF joins Barbados Coalition for Resilient Infrastructure to support transition to a more sustainable economy
July 6, 2023
CAF has joined the Barbados Coalition for Resilient Infrastructure to support Barbados’ transition, a group of international organizations and governments that are working together to support Barbados’ transition to a more resilient and sustainable economy. CAF’s participation will focus on supporting the development of a new Blue Green Bank, helping to improve the country’s disaster […]
Pavana Energy Ltd. announces their first operational wind farm in Barbados
March 31, 2023
Pavana Energy announced the development of their first operational wind farm in Barbados. The project is expected to produce 2.5 Gwh of energy annually. Source: Pavana Energy
The World Bank provides US$110 million in financing to support Barbados’s transition to low-carbon economic development and climate resilience
January 18, 2023
The World Bank approves US$110 million in financing for Barbados to support its low-carbon economic development and climate resilience. The loan has two main pillars, the first focusing on green and blue resilient development, including water reuse, adoption of climate change and agriculture policy, and the establishment of an Environmental Sustainability Fund, among other items. […]
Barbados is first Caribbean nation to receive funding from the IMF’s US$45 billion Resilience Trust
October 19, 2022
Barbados is the first nation in the Caribbean that will receive money from the US$45 billion IMF Resilience Trust. They will receive US$183 million for climate-focused spending. Source: ProPublica
In landmark deal, Barbados restructures debt through a debt-for-nature swap which aims to protect 30% of the island’s coastal waters
September 21, 2022
In what Prime Minister Mia Mottley has described as a game-changing transaction, Barbados has announced a $150m debt-for-nature swap. Managed by Credit Suisse and CIBC FirstCaribbean, the deal will free up about US$50 million in the next 15 years by buying back a portion of its US$531 million bond due in 2029. They are replacing […]
The Ministry of Energy in Barbados launches a national energy storage policy
August 24, 2022
The Ministry of Energy in Barbados announced the creation of a national energy storage policy. Part of the policy includes mandatory storage systems for larger renewable energy supplies. Source: Barbados Today