Williams Caribbean Capital (WCC) wins best financing award at CREF 2019

Williams Caribbean Capital (WCC) wins best financing award at CREF 2019

Said to be only regional company offering internationally certified green bond

Friday, November 15, 2019

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Williams Caribbean Capital (WCC), an impact investment company focused on sustainability and renewable energy through non-plastic food packaging solutions, recently won the Caribbean Renewable Energy Forum's (CREF) 'Best Financing Award' following in the footsteps of CIBC FirstCaribbean, which won in 2017.

CREF, which is the largest annual gathering for the regional clean energy sector, announced the winners at its 11th annual Industry awards held in Miami. New Energy Events, organisers of the event, established the awards programme to recognise leaders in the Caribbean energy sector who are making a lasting impact.

A release sent said that “WCC won the award on the strength that it's green energy bonds which are issued to local Caribbean investors to fund the deployment of Photovoltaic (PV) Solar primarily on Caribbean commercial rooftops and are the only such globally certified green energy bonds issued by a Caribbean company.

“In May 2019, WCC's green bonds were validated as conforming to Green Bond Principles via a second party opinion from Sustainalytics. Sustainalytics are the world leaders for rating the sustainability of companies and bond issuances based on their environmental, social and corporate governance (ESG) performance and furthermore in June 2019, WCC's bonds were certified by the global Climate Bond Initiative as conforming to the Paris accord,” the release said.

WCC is a joint venture with the Caribbean conglomerate Williams Industries Group chaired by Ralph “Bizzy” Williams and is headquartered in Barbados with regional offices in Dublin, Ireland and Kingston, Jamaica.

Williams, in commenting on his company's work in the region, said he believes passionately that Caribbean citizens should build and benefit from alternative energy generation across the region to become truly in charge of their own energy supply.

“WCCs green projects are not only good for investors, but are also very beneficial to the islands of the Caribbean in reducing imports of fuel and reducing carbon footprint,” he said.

For the 9-month period ended September 30, 2019, PV Solar systems financed via green energy bonds issued by WCC offset 3,695 tonnes of Carbon-dioxide (CO2) carbon emissions, which would otherwise have resulted from the burning of heavy fuel oil to generate the same electricity. Equivalently 180,000 trees would be required for a full year to offset the same 3,695 tonnes of CO2.

WCC also added that they plan to continue expanding across the Caribbean with a further green bond issuance to be undertaken in November, also committing to continue in seeking out new project partners with large commercial rooftops who have an interest in installing PV Solar on them.

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