USTDA, the U.S. Department of Energy, and the Inter-American Development Bank Sign MOU to Promote Sustainable Energy in the Caribbean
November 12, 2015
(USTDA)
Partnership Increases Energy Security, Supports
Low-Carbon Technologies and Combats Climate
Change in the Region
WASHINGTON, District of Columbia -- The United
States Trade and Development Agency (USTDA),
the United States Department of Energy (DOE),
and the Inter-American Development Bank (IDB)
signed a memorandum of understanding (MOU) that
creates a framework for cooperation to promote
programs and activities that foster the
transformation of the energy sector in the
Caribbean. The MOU seeks to increase energy
security, reduce energy vulnerability, and
promote renewable energy, energy efficiency,
and low-carbon technologies in the region.
Participants from the three institutions will
collaborate to support strategic projects,
activities, and programs developed by the IDB,
USTDA, and DOE in cooperation with regional
governments in the Caribbean. These projects
include non-reimbursable technical assistance
and programs to promote knowledge exchanges,
capacity building activities, and help
mobilizing technical expertise. Moreover, the
MOU seeks to promote collaboration for a
potential Energy Co-financing Facility for
Caribbean Sustainability to be developed by the
IDB, particularly focused on efforts to attract
international investors. The IDB, USTDA, and
DOE will develop an action plan to facilitate
the implementation of the MOU, which will
include additional details regarding expected
timelines for implementation, definition of
success, planned collaborative activities, and
potential contributions.
“Collaboration through this MOU marks another
step forward in our commitment to supporting
policies that ensure energy security in the
Caribbean by leveraging innovative financing
approaches and U.S. expertise in the
development and deployment of low-carbon
technologies,” said U.S. Energy Secretary
Ernest Moniz. “Leadership amongst USTDA, IDB,
and the Department of Energy is an example of
how strategic partnerships can help regions
around the world combat climate change to
reduce carbon emissions and support low-carbon
economies in the 21st century.”
The first joint activity planned under the MOU
will be a technical visit to the United States
that USTDA will host to introduce regional
water utilities to energy efficiency
technologies and best practices. “By connecting
local water utility companies to U.S. solutions
that can help them address the high cost of
energy, we will ensure that our first activity
– and the broader partnership between USTDA,
DOE and the IDB – leverages the expertise and
innovation of the private sector,” stated USTDA
Director Leocadia I. Zak.
The MOU will support the global United Nations
Sustainable Energy for All (SE4All)
initiative’s three strategic priorities: (1)
ensuring universal access to modern energy
services, (2) doubling the global rate of
improvement in energy efficiency; and (3)
doubling the share of renewable energy in the
global energy mix- by 2030. These priorities
are now incorporated as Goal number 7 of the
Post-2015 Sustainable Development Agenda, which
was approved at the United Nations Sustainable
Development Summit on September 25, 2015.
The IDB works to promote these priorities in
Latin American and the Caribbean via SE4All
Americas. IDB President Luis Alberto Moreno,
who is on the advisory board of SE4ALL
Americas, stated that: “We’re very close to
achieving universal access to electricity in
Latin America and the Caribbean. But moving
from 95 percent to 100 percent means giving
access to 30 million people and will require an
even larger investment and a new set of
solutions.”
Working together, USTDA, DOE, and IDB will
promote a sustainable energy future in the
Caribbean by providing the technical knowledge
and expertise to both increase energy security
in the region and ensure greater use of
renewable energy and energy efficiency
technologies.
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