(NEWS784) – St Vincent is among four Caribbean countries to benefit from over US$ 105 million to assist their renewable energy transition.
The Abu Dhabi Fund for Development (ADFD confirmed the allocation for eight renewable energy projects four of which are in the Caribbean region.
In Saint Vincent and the Grenadines, an ADFD loan of US$10 million will support the installation of a 7 MW solar PV project and benefit 2,444 households.
The renewable energy venture aims to reduce carbon emissions, fossil fuel consumption and operating costs.
St. Vincent said it was happy to be selected because it is important for the sustainable development of the islands.
Country officials say it will help in the realisation of 80 per cent renewable energy by 2022.
St. Vincent & the Grenadines, Antigua & Barbuda, Cuba, and St. Lucia will be among the eight countries to benefit.