Support for energy efficiency in Latin America and the Caribbean


Barbados hotels will
be among the first to
benefit from energy
saving technologies
Washington, DC, U.S.A. — (METERING.COM) — January 29, 2009 – Support totaling more than $153 million for Peru and the Bahamas and Barbados to explore energy efficiency and other sustainable energy alternatives has been approved by the Inter-American Development Bank (IDB).

A US$150 million loan to Peru will enable the country to develop a new sustainable energy matrix that will encourage the growth of hydrocarbon and renewable energy markets in an environmentally and socially responsible framework. Among other actions the program will develop energy efficiency measures, standards and consumer labels for household appliances and other equipment.

The program also will focus on better integrating Peru’s primary energy sources and developing non traditional renewable energy sources and bioenergy.

For the Bahamas, grants of $1.45 million are aimed at strengthening the capacity of the Ministry of the Environment, which oversees the energy sector, and enabling the Bahamas Electricity Company to explore energy efficiency and renewable energy alternatives, including solar power, waste to energy, and ocean thermal energy conversion (OTEC), a new technique that enables tropical islands to produce both power and desalinated water.  

The grants will also support ongoing efforts to reform the country’s regulatory, financial and fiscal frameworks in order to achieve a sustainable energy matrix, and to encourage energy efficiency in public, commercial and residential buildings.

In Barbados, a $1 million grant will underwrite the development of a sustainable energy framework and will enable the government to test energy efficiency and renewable energy solutions, study bioenergy and solar alternatives, and develop regulatory and financial incentives to promote sustainable energy.  

In addition a $1 million grant will launch the Caribbean Hotel Energy Efficiency Action Program (CHENACT). This program will finance the adoption of energy saving technologies in the region’s hotels, thereby helping them to reduce one of their largest operating costs. Studies have estimated that hotels in the Caribbean could lower their energy bills by up to 20 percent by investing in efficient lighting, air conditioning and related technologies.

The program will also partner with the United Nations Environmental Program to help hotels phase out the use of ozone depleting substances in chillers, air conditioners and refrigerators. The program will begin in Barbados, with the goal of replicating its methodology in other Caribbean countries.