Recognising the critical importance of the Caribbean Development Bank (CDB) to the region’s advancement we have maintained a keen if quiet watch over the institution’s performance and progress with increasing admiration.

The latest move by the CDB that has caught our attention is the launch of the oddly named, but vitally important, Caribbean Regional Electricity Grid Interconnection and Renewable Energy Scaling Technical Assistance Project (CREGI-RES).

The project is, we are told, designed to help the region assess how renewable energy resources, electricity demand, interconnection opportunities, and investment pathways can be brought together into a viable regional road map.

Jamaican planners will likely take special interest in this initiative, not the least because of the recent islandwide blackout of electricity about which there has been some controversy, with more heat than light being generated.

By examining the potential for regional integration, including submarine interconnection options, grid reinforcement needs, and renewable energy scaling, CREGI-RES can help identify pathways to decrease dependence, lower costs, strengthen resilience to climate change, and reduce vulnerability to global fuel price shocks.

Every Caribbean Community (Caricom) member country must regard this as a priority, knowing that regional co-operation through this technical assistance can unlock opportunities that individual countries cannot achieve alone.

“The potential benefits could be significant and now must be tested through rigorous analysis,” according to director of the CDB Projects Department, Mr L O’Reilly Lewis, when he spoke at the launch of CREGI-RES last week.

We concur.

Many Caribbean countries remain highly dependent on imported petroleum for their primary energy needs, resulting in high electricity tariffs. Despite the region’s vast potential in geothermal, offshore wind, solar and hydropower, renewables still account for minimal installed generation capacity.

CDB says that CREGI-RES will address these challenges through a specialised grid interconnection and renewable energy scaling advisor who will develop a comprehensive regional road map covering grid interconnection, renewable energy deployment, and power market development.

The technical assistance is expected to support the establishment of thematic working groups to advance the process alongside regional stakeholder workshops and country consultations, with a focus on removing regulatory and institutional barriers to attract long-term private finance.

For financing, the technical assistance project will draw on the CDB’s Special Funds Resources, with support from development partner contributions, including the European Union Caribbean Investment Facility (EU-CIF) Geothermal Risk Mitigation Programme, Agence Française de Développement, and the Government of Canada through the SuRGE programme.

The total expenditure is projected at US$1.5 million, and implementation is expected to continue through early 2028, with first outputs targeted for 2027.

CREGI-RES is expected to help identify credible investment opportunities that could contribute to increased renewable energy capacity, lower emissions, improve energy affordability, and have more inclusive participation in the clean energy workforce, CDB explains.

Of course, these outcomes will depend on the results of further analysis, as well as future investment decisions by participating countries and financing partners.

We expect to see full co-operation among the regional countries.