Sustainable Energy for the Eastern Caribbean

seecbanner

The Sustainable Energy for the Eastern Caribbean (SEEC) programme is a four-year multi-donor trust facility and one of the Smart Facilities and Programmes of CDB’s Energy Strategy. SEEC is designed to reduce dependency on imported fossil fuels in participating OECS countries. This will be done by displacing fossil fuels in electricity generation with economically viable investments in renewable energy and energy efficiency. SEEC is blended loan/grant facility, with partners UK’s Department for International Development (DFID) and the European Union’s Caribbean Investment Forum (EU-CIF) largely responsible for the grant contributions, and CDB providing loan resources.

A key emphasis is energy efficiency improvements and renewable energy interventions in government buildings. This is important, as it will allow governments to lead by example as they seek to get the citizenry and the private sector to adopt more sustainable energy. SEEC represents a pilot endeavor from which CDB, as the executing agency, intends to learn for subsequent roll out of similar programmes to all the BMCs. The technical assistance interventions will also place beneficiary countries in a position to undertake more extensive/ambitious transformative initiatives.

The six beneficiary countries of the Eastern Caribbean – Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines – will each receive an allocation of grant resources for Energy Efficiency and Renewable Energy investment projects blended with CDB loan resources.

SEECBeneficiariesMain Objective of the Programme:

The general objective of the SEEC Programme is to reduce participating OECS countries’ dependency on imported fossil fuels through energy efficiency (EE) and renewable energy (RE). The three specific objectives of the Programme are:

  1. Increase the capabilities of actors in the public and private sectors to support, plan, and implement investments in RE and EE;
  2. Contribute to the development of an RE and EE market that has adequate financing as well as an adequate supply of goods and services; and
  3. Raise awareness and support an optimal implementation of EE measures and RE technologies

SEEC Programme Resources and Elements:

seecfacts

The Caribbean Development Bank (CDB) is the lead Finance Institution and Executing Agency for the SEEC-Programme which has a total budget of around EUR 21 million. It is co-financed by EU Caribbean Investment Facility (EU-CIF) and UK Department of International Development (DFID). The SEEC Programme is designed to channel resources to the six beneficiary countries on appropriate terms. Main elements are:

  1. Grants blended with CDB Loans to provide concessional funding for EE and RE investments in the public sector
  2. Lines of Credit and Micro-finance Guarantee Facility to support lending in private sector through Financial Intermediaries
  3. Grant financed technical assistance to develop EE and RE projects
  4. Institutional strengthening and capacity building through technical assistance grants

A focus area for the SEEC Programme will be energy efficiency and integrated renewable energy in public sector buildings.

SEEC Project Identification:

Each of the six OECS participating countries will be allocated a pool of funds for investment programming. By participating in the programme Governments and Financial Intermediaries will have access to SEEC resources for implementation of EE/RE projects.