BRIDGETOWN, Barbados:  The Caribbean Development Bank (CDB / the Bank) has launched the Caribbean Regional Electricity Grid Interconnection and Renewable Energy Scaling Technical Assistance Project, (CREGI-RES), an initiative designed to help the region assess how renewable energy resources, electricity demand, interconnection opportunities and investment pathways can be brought together into a viable regional roadmap.

The Technical Assistance marks a turning point in the region's effort to build a more secure energy future.  By examining the potential for regional integration, including submarine interconnection options, grid reinforcement needs and renewable energy scaling, CREGI-RES can help identify pathways to decrease dependence, lower costs, strengthen resilience to climate change and reduce vulnerability to global fuel price shocks.

“Regional cooperation through this Technical Assistance unlocks opportunities individual countries cannot achieve alone. The potential benefits could be significant and now must be tested through rigorous analysis,” explained Mr. L. O’Reilly Lewis, Director of CDB’s Projects Department, during the launch of CREGI-RES.  

Many Caribbean countries remain highly dependent on imported petroleum for their primary energy needs, resulting in high electricity tariffs. Despite the region's vast potential in geothermal, offshore wind, solar and hydropower, renewables still account for minimal installed generation capacity.  

CREGI-RES will address these challenges through a specialised  Grid Interconnection and Renewable Energy Scaling Advisor who will develop a comprehensive regional roadmap covering grid inter-connection, renewable energy deployment and power market development. The Technical Assistance is expected to support the establishment of thematic working groups to advance the process alongside regional stakeholder workshops and country consultations, with a focus on removing regulatory and institutional barriers to attract long-term private finance.  

The Technical Assistance is financed through CDB’s Special Funds Resources, with support from development partner contributions, including the European Union Caribbean Investment Facility (EU-CIF) Geothermal Risk Mitigation programme, Agence Française de Développement, and the Government of Canada through the SuRGE programme. The total TA envelope is US$1.5 million. Implementation is expected to continue through early 2028, with the first roadmap outputs targeted for 2027.

CREGI-RES is expected to help identify credible investment opportunities that could contribute to increased renewable energy capacity, lower emissions, improved energy affordability, stronger resilience and more inclusive participation in the clean energy workforce. These outcomes will depend on the results of further technical, financial, environmental, social, and institutional analysis, as well as future investment decisions by participating countries and financing partners.

A flagship initiative under CDB's Accelerated Sustainable Energy and Resilience Transition 2030 Framework (ASERT-2030), CREGI-RES forms part of the Bank’s Strategic Plan which prioritises investments in green energy across its BMCs. The Technical Assistance also aligns with the CARICOM energy agenda and the targets set under the Paris Agreement, positioning the Caribbean as a leader in the clean energy transition. 

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Photo caption: (L-R): Dr. Sherine Ibrahim, Sustainable Energy Specialist, Caribbean Development Bank, and Mr. Kyle Farnum, Programme Manager, Energy, European Union, attend the launch of the Caribbean Regional Electricity Grid Interconnection and Renewable Energy Scaling Technical Assistance Project.