Grenada targeting Green Energy Investment

Sunday, April 13, 2014 5:27 PM- George's, Grenada
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WASHINGTON DC, April 13, 2014 – GIS:
Grenada’s Prime Minister, Dr. The Right Honourable Keith C. Mitchell, has signed an Expression of Interest with Sir Richard Branson's Carbon War Room.

Under these arrangements, the Carbon War Room would assist in attracting investors, and other organisations, to Grenada to finalise an updated roadmap for action and investment in renewable energy and energy efficiency.

At a signing ceremony at the National Press Club in Washington, on Friday, April 11, Dr. Mitchell said that Grenada was seeking solutions to the high electricity prices faced by Grenadians which was due, in part, to the high cost of imported diesel fuel.

Separately, Dr. Mitchell noted that the efforts by the Carbon War Room would be an important strand of an existing strategy already unfolding under the leadership of Minister Gregory Bowen.

Dr. Mitchell acknowledged that "green" renewable energy held the possibility of helping Grenada lower electricity prices and noted that Grenada could be a leader in this area.

Green energy, if adopted by major polluting countries, could help the world tackle Climate Change. The Prime Minister noted that Grenada took climate change very seriously, following the devastating impacts of hurricanes Ivan and Emily.

The Roadmap envisaged would take stock of existing studies and investor appetite so as to propose solutions for (1) improving the regulatory environment; (2) energy efficiency in government buildings and assets, such as street lighting; (3) affordable energy efficiency services targeted at major energy users in the private sector, such as hotels and other businesses; (4) renewable energy solutions, such as wind and solar, that would have a positive impact on all households and; (5) longer term investment in geothermal energy, starting with exploratory drilling.

Potential partners that may come to the table are advocating for the continuation of the positive dialogue already underway with GRENLEC as Grenada seeks solutions to its energy challenges.

Dr. Mitchell co-hosted the Caribbean Challenge Initiative with Sir Richard Branson in the Virgin Islands last year, an initiative that also pledged to help the Caribbean islands reduce importation of fossil fuel (such as diesel).

A follow-up meeting was held with the Carbon War Room in February of this year, attended by representatives of the Ministry of Environment and the Ministry of Foreign Affairs on behalf of the Prime Minister.

The Carbon War Room, a non-profit enterprise established by Sir Richard Branson and led by the former President of Costa Rica, Jose Maria Figueres, is seeking to work with at least ten Caribbean islands.







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