TAPSEC to Host Free Virtual Training for Financial Institutions in Evaluating Renewable Energy and Energy Efficiency Investments

July 22, 2020 – Georgetown, Guyana

The Technical Assistance Programme for Sustainable Energy in the Caribbean (TAPSEC) is hosting a free two-day online training on “Evaluating Renewable Energy and Energy Efficiency Investments in the Caribbean” from July 23-24, 2020. The training, hosted on Microsoft TEAMS, runs daily from 9:00am to 12:00pm.

Aimed at enabling financial institutions with tools to boost renewable energy technology projects, the training will expose participants to the techniques employed in evaluating renewable energy technology projects for access to financing using multiple approaches.

The two-day training is open to senior managers, investment professionals, loan officers, and other key personnel involved in the investment decision-making for renewable energy and energy efficiency technology projects.

Participants can also expect an introduction to a Green Energy Financial Tool Kit (a suite of software tools) to be used for evaluating the bankability of investment projects for different RE and EE technologies. This training underscores the importance of managerial decision-making in relation to financing flexibility and options to clients.

TAPSECs Programme Leader Mr Simon Zellner notes that “the Caribbean’s transition to the use of sustainable and climate-resilient energy systems require that regional financial institutions invest in the region’s collective social and economic future through the maximisation of renewable energy resources. To this end, TAPSEC remains committed in its thrust to build the capacity of financiers and project developers in the preparation of bankable RE/EE project documentation”.

Online registration for the Virtual Training is open until July 22, 2020 at 5:00pm ECT.

For registration and any additional information, please visit our website https://tapsec.org/greenfinancewebinar/

Download the PDF press release here

ABOUT CARICOM & CARICOM ENERGY

The Caribbean Community (CARICOM) was established on 4 July 1973 with the signing of the Treaty of Chaguaramas. To date, CARICOM remains the oldest surviving integration movement in the developing world with a grouping of twenty countries: fifteen Member States and five Associate Members.

CARICOM Energy was commissioned in 2008 under the Directorate of Trade and Economic Integration to coordinate the finalization of the regional energy policy and provide strategic management for a programmatic approach to the Region’s energy issues.

In 2009, the CARICOM Secretariat, through the Energy Unit, commissioned the Caribbean Sustainable Energy Roadmap and Strategy (C-SERMS). The C-SERMS was designed to build on the existing efforts within the Region, as well as, to provide Member States with joint regional sustainable energy targets and a common, coherent strategy for implementing the regional energy policy. Approved in 2013, the CARICOM Energy Policy promotes a shift to sustainable energy, through the increased use of renewable energy sources and improvements in energy efficiency.

CARICOM Energy is managed by the CARICOM Secretariat, with implementation coordinated by the Caribbean Centre for Renewable Energy and Energy Efficiency (CCREEE) which now serves as the implementation hub for the CARICOM Energy Policy.

ABOUT THE DEUTSCHE GESSELLSCHAFT FUR INTERNATIONALE ZUSAMMENARBEIT (GIZ)

As a service provider in the field of international cooperation for sustainable development and international education work, the Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ) is dedicated to shaping a future worth living around the world. GIZ has over 50 years of experience in a wide variety of areas, including economic development and employment promotion, energy and the environment, and peace and security.

In collaboration with partners in national governments worldwide, fellow international agencies and cooperation partners from the worlds of business, research and civil society, GIZ works flexibly to deliver effective solutions that offer people better prospects and sustainably improve their living conditions.

GIZ’s main commissioning party is the German Federal Ministry for Economic Cooperation and Development (BMZ). GIZ is the implementing agency for the TAPSEC.

ABOUT THE GERMAN FEDERAL MINISTRY OF ECONOMIC COOPERATION AND DEVELOPMENT (BMZ)

The German Federal Ministry of Economic Cooperation and Development (BMZ) is actively engaged, through international cooperation, in combating poverty, securing food, shaping globalisation in a socially equitable manner, preserving the environment and natural resources, and establishing peace, freedom, democracy and human rights.

For the last 30 years, the BMZ and GIZ have been working collaboratively. The BMZ commissions GIZ to implement advisory projects that enhance the capacities of individuals, organisations and societies to improve their living conditions through the efficient and sustainable use of resources and achieve their goals.

In 2016, the BMZ commissioned GIZ to implement the Climate Resilience and Sustainable Energy Supply (Cli-RES) project with a contribution of € 6.3million to advance climate resilience in CARICOM member states. Of this sum, €1.5million is allocated to the implementation of TAPSEC while €4.3million is allocated to the Cli-RES project.

ABOUT THE EUROPEAN UNION

The Delegation of the European Union to Barbados, the Eastern Caribbean States, the OECS and CARICOM/CARIFORUM is part of the European External Action Service (the EU’s “Foreign Service”) and is one of the 140 Delegations around the world. Based in Barbados, the Delegation also represents the EU to Antigua and Barbuda, Dominica, Grenada, St. Lucia, St. Kitts and Nevis, St. Vincent and the Grenadines.

The role of the Delegation is to  promote the values and policies of the European Union, in an open and equal partnership with the Governments and people of Barbados and the Eastern Caribbean; to implement development and trade policies focusing on poverty alleviation and on the promotion of democracy, Human Rights and the Rule of Law as well as the smooth and gradual integration of the countries into the world economy; to deepen the political dialogue on all issues of mutual interest and to strengthen the partnership; and to support CARICOM regional integration as well as the planned development regional policies, programmes and institutions.

TAPSEC is made possible through the European Union’s generous contribution of € 9.5 million.