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The Caribbean Renewable Energy Development Programme, CREDP. Roland Clarke, Ph. D. Project Manager, CREDP Tel: 592 222 0002 thru 9 ext. 2631 rclarke@caricom.org http://www.caricom.org/jsp/projects/credp.jsp 16 May 2006. BACKGROUND AND CONTEXT.

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the caribbean renewable energy development programme credp

The Caribbean Renewable Energy Development Programme, CREDP

Roland Clarke, Ph. D.

Project Manager, CREDP

Tel: 592 222 0002 thru 9 ext. 2631 rclarke@caricom.org

http://www.caricom.org/jsp/projects/credp.jsp

16 May 2006

background and context
BACKGROUND AND CONTEXT
  • Purpose: To prepare a regional project to remove barriers to the use of renewable energy and thereby foster its development and commercialisation
  • Barriers –
    • Policy & lack of legislative and regulatory reform
    • Financing i.e TA for project preparation, and lack of dedicated equity and debt financing for projects
    • Capacity i.e. training
    • Information i.e. web site, mailing list, DVD’s
countries
The Bahamas

Barbados

Belize

Cuba

Dominica

Grenada

Guyana

Jamaica

St. Kitts & Nevis

Saint Lucia

St. Vincent & The Grenadines

Trinidad & Tobago

Suriname

COUNTRIES
undp gef gtz financing us
UNDP/GEF & GTZ Financing (US$)
  • Project funded by the GEF/UNDP and the German GTZ.
  • TOTAL: 6.646 MM
    • UNDP/GEFProject – Phase II 4.076 MM
    • PDF B Phase 1 – Part II 0.350 MM
  • Sub-total GEF:4.426 MM
  • GTZ 2.220 MM
credp eligibility criteria
CREDP Eligibility Criteria
  • General
    • Electricity from wind, hydro, solar PV, geothermal, biomass. Also solar water heating
    • R&D projects will be excluded.
    • Manufacturing projects will be excluded
    • Only studies aimed at preparing projects for bank financing
    • No general utility planning studies
  • Hydro
    • Large scale hydro dam projects must meet GEF environmental damage criteria
credp eligibility criteria1
CREDP Eligibility Criteria
  • Geothermal
    • No early stage support under CREDP
    • Developers must provide
      • a complete resource assessment,
      • an environmental impact assessment, and
      • an economic assessment
    • OAS/UNEP GeoCaribes project targets early stage with drilling risk fund and policy intervention
credp economic selection criteria
CREDP Economic Selection Criteria
  • No net increase in GHG emissions
  • BCR > 1 or NPV > 0 or DSCR > 1.5
  • After Tax ROI Equity > 15%
  • Must have net foreign exchange savings
  • Government letter of support (project specific)
credp s policy activities
CREDP’s Policy Activities
  • Development of legal drafting instructions
  • Development of templates for
    • Electricity Supply Act or License
    • Regulatory Act
    • Energy Policy and Plan
  • Inputs on RE to the Regional Energy Policy
  • Research on policy initiatives and electric utility perspectives in the Caribbean
  • Support national energy committees with funding and technical consultants
credp s policy activities1
CREDP’s Policy Activities
  • Development of legal drafting instructions
  • Development of templates for
    • Electricity Supply Act or License
    • Regulatory Act
    • Energy Policy and Plan
  • Inputs on RE to the Regional Energy Plan
  • Research on policy initiatives and electric utility perspectives in the Caribbean
  • Support national energy committees with funding and technical consultants
template documents available
Template documents available
  • Purchased Power Agreement, PPA
  • Interconnection Agreement
  • Equipment, Procurement & Construction (EPC) Contract
  • O&M Contract/Specifications
small grants available for pre feasibility studies
Small Grants available for Pre-Feasibility Studies
  • Typically about US$15,000 per country
  • Purpose: To conduct pre-feasibility studies and RETScreen analysis
  • Typically includes visit by CREDP and a technical consultant
  • Projects must pass pre-feasibility screen and CREDP selection criteria before further consideration by Caribbean Renewable Energy Technical Assistance Facility, CRETAF
design of financing mechanisms cretaf
Design of Financing Mechanisms - CRETAF
  • CRETAF ($1.6 MM), subset of CREDP
    • Purpose: Final preparation of projects for bank financing
    • Up to $100,000 per country for all projects
    • Projects must be screened by CREDP using RETScreen – www.retscreen.org
    • Design as a contingently recoverable loan i.e.
      • Loan repayable if and only if the project receives investor or debt financing
      • Loan converted to a grant otherwise
studies funded by cretaf
Studies funded by CRETAF
  • Detailed site specific resource assessments
  • Grid integration studies
  • Development of PPA’s
  • Environmental impact assessments
  • Detailed Feasibility Studies
design of financing mechanisms cref
Design of Financing Mechanisms - CREF
  • CREF - Caribbean Renewable Energy Fund
  • Currently under development, Q3 2006
  • Fund raising Q4 2006 and beyond
  • Purpose: Debt and/or equity financing for RE projects
    • Also intended to leverage debt from commercial and other banks
next steps for you
Next Steps for You
  • Contact us for assistance for
    • National Energy Committees – we provide a template document that gives a framework and a guide for the development of a national energy policy document. We also give technical assistance and financial support to Committees.
    • Pre-feasibility studies – we provide technical assistance, and financial support of US$15,000 for RETScreen studies
  • Give us 10 weeks advanced notice
view our web site
View our Web Site
  • http://www.caricom.org/jsp/projects/credp.jsp
  • Thank you