Sustainable Energy Facility for Renewable Energy and Energy Efficiency Projects, Eastern Caribbean

Client needs

The Inter-American Development Bank and the Caribbean Development Bank wanted to facilitate the flow of finance to renewable energy and energy efficiency opportunities in the Eastern Caribbean.

How Castalia helped

• Identified barriers preventing the flow of finance to sustainable energy investments in the Eastern Caribbean
• Assessed investment instruments and business models to overcome those barriers
• Consulted with donors and participating governments to design a demand-driven vehicle for investment in energy efficiency and renewable energy projects
• Designed the Sustainable Energy Facility (SEF). Demonstrated economic viability, assisted in fund raising, and designed the governance, monitoring, and evaluation structures.

The outcome of our work

SEF was established in 2015 with $71.5 million in funding from the CDB, European Union-Caribbean Investment Facility, and the Foreign, Commonwealth, and Development office.