Resource mobilization is a key component of any sustainable undertaking. TAPSEC’s activities within the Finance component were focused on designing, implementing and promoting innovative financing models for Renewable Energy (RE) and Energy Efficiency (EE) Projects, while also devising mechanisms to reduce transaction costs for such projects. TAPSEC’s Finance Component was dedicated to the development of innovative financing mechanisms for renewable energy and energy efficiency projects, with a specific focus on the accessibility of these mechanisms to local and regional project developers.
It is anticipated that at least US$100 million in project development will be realized within the RE/EE sector of CARIFORUM countries. To achieve this goal, TAPSEC facilitated the establishment of a Project Preparation Facility (PPF) in collaboration with the Caribbean Centre for Renewable Energy and Energy Efficiency (CCREEE). The PPF will provide developers with a mechanism for supporting the bankability of projects.
Through these innovative approaches and strategic synergies, we increased the number of bankable RE/EE private sector projects and technology solutions through business models and/or financial mechanisms for reducing the transaction costs of energy solutions.