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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