This Technical Cooperation will continue to support the implementation of the Sustainable Energy Framework for Barbados (SEFB). The SEFB is a comprehensive framework aiming to unlock viable investments in Renewable Energy (RE) and Energy Efficiency (EE) to reduce energy costs, reduce dependency on imported fossil fuels, improve energy security, promote an enabling legal and regulatory framework for the deployment of RE and EE, and enhance environmental sustainability. Two loan operations currently under execution are an integral part of the SEFB (BA-L1012 and BA-L1025), and one operation under preparation BA-L1043 Sustainable Energy Investment Program II. The Public Sector Smart Energy (PSSE) (BA-L1025) program aims at replacing all street lights in Barbados with energy-saving lamps and retrofitting government buildings to generate energy savings, and The Deployment of Cleaner Fuels and Renewable Energies in Barbados (BA-1012) operation has the objective to enhance Barbados' energy security and sustainability by diversifying its energy matrix through promoting the use of cleaner fuels for power generation including Natural Gas, and increasing the use of Renewable Energy (RE) sources. This TC will also support the execution of the Smart Fund II (currently under preparation) (BA-L1043) which has a main objective to expand the financial instrument designed and implemented under (BA-L1020) to support small businesses acquire state-of-the-art RE and EE equipment,, promote electromobility, the applicability of energy storage, and institutional strengthening. These operations have been and still are an integral part of the government's strategy to reduce its dependency on imported fossil fuels for electricity generation and turn to a sustainable energy matrix.This TC will contribute to the execution and evaluation of the Smart Fund and the execution of the PSSE.
Project Detail
Country
Barbados
Project Number
BA-T1057
Approval Date
December 10, 2018
Project Status
Closed
Project Type
Technical Cooperation
Sector
ENERGY
Subsector
LOW-CARBON ENERGY TECHNOLOGIES
Lending Instrument
-
Lending Instrument Code
-
Modality
-
Facility Type
-
Environmental and Social Impact Category (ESIC)
Category B: Likely to cause mostly local and short-term negative environmental and associated social impacts and for which effective mitigation measures are readily available
Total Cost
USD 200,000.00
Country Counterpart Financing
USD 0.00
Original Amount Approved
USD 200,000.00