Boosting Climate Resilience: Preparing and De-risking Renewable Energy Projects in the Caribbean

Although the Caribbean is host to many successful, first-of-their kind renewable energy projects, the pace and progress of the transition has been unequal across the region. Many countries remain in the demonstration step of the energy transition. This is because the majority of Caribbean clean energy projects need significant support in the early stages of project preparation, development, and de-risking to reach bankability and accelerate deployment at scale.

Small Island Developing States (SIDS) often lack sufficient funding for thorough project preparation. This includes a checklist of activities, such as running feasibility and environmental impact studies and preparing the site for construction to make the project “investor ready.”

This event, hosted by RMI at COP 28, brings together Caribbean government representatives, energy leaders, investors, and finance experts to discuss avenues to mobilize climate capital and radically scale the energy transition in the Caribbean, functioning as a model for other countries and regions in the Global South. The discussion focuses on practical solutions to break through project preparation barriers, which are currently hindering the number of projects ready for investment.