President of the Caribbean Development Bank (CDB) Dr. Warren Smith, says they want to help Jamaica achieve its renewable energy target.
Last year, Prime Minister Andrew Holness upped the country’s target from 30 to 50-percent of its energy needs being met by renewable sources by 2030.
Dr. Smith says the CDB has attractively-priced funding for this type of development.
It’s an ambition that the CDB is fully behind, as energy security for the region remains one of its priority areas of funding.
Dr. Smith says Jamaica must achieve the target, and they’re willing to help.
The CDB President says they’re also happy to work with private sector firms that are interested in investing in renewables. It’s an area ripe for investment, given the country’s energy strategy.
MPC Caribbean Clean Energy recently became the first renewable energy company to list on the Jamaica Stock Exchange. And Wigton Wind Farm is expected to follow very soon, with the government’s planned divestment via the local stock market.