CDB approves grant for energy audit of government buildings in SVG

The Caribbean Development Bank (CDB) is financing the cost of energy audits of selected public buildings in St. Vincent and the Grenadines which will inform the energy efficiency (EE) measures and/or renewable energy (RE) interventions needed to reduce the country’s electricity consumption.

CDB has provided a grant of USD48,500 under its Sustainable Energy for the Eastern Caribbean (SEEC) Programme which will finance the cost of consultancy services to update (where they exist), and/or conduct, investment grade energy audits for 20 selected public buildings.

The energy audits will evaluate the energy performance of the subject buildings and elaborate cost-effective and feasible energy efficiency measures and renewable energy options. The identified measures will form the basis for proposing a project to CDB for utilisation of SEEC grant and loan resources.

Implementation of an investment project resulting from the energy audits supported by this TA Grant, could potentially save the Government of St. Vincent and the Grenadines an estimated 30% in energy consumption for the targeted buildings, and similarly reduce expenditure on electricity. Such an investment project would contribute directly to climate change mitigation due to lower levels of CO2 emissions, consistent with Sustainable Development Goal #7.

The SEEC Programme is a multi-donor trust fund, supported by Department For International Development (DFID)-UKaid, European Union- Caribbean Investment Facility (EU-CIF) and CDB, which provides grant and blended loan resources to the six independent OECS countries – Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines, for addressing public sector energy security issues through RE and EE interventions and for capacity building.