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GRENADA-OAS funding renewable energy projects in Grenada

The Organization of American States (OAS) is providing US$20,000 to a local credit union as part of an effort to help small island states develop alternative forms of energy. The United Nations Industrial Development Organization (UNIDO) Caribbean Solar Finance Programme

is intended to assist developing countries transition away from the conventional fossil fuel forms of energy, to renewable forms.

This specific programme is designed to create awareness among the low and middle income sectors of society as to the benefits of transitioning to renewable energy. It is also intended to reduce the constraints on and increase the capacity for financing of solar water heating systems in Grenada.

The programme is being administered here by the Grenada Public Service Corporative Credit Union (PSCCU).

The OAS Representative in Grenada, Terrence Craig, said the decision to work with the PSCCU was based on its membership.

“One of the criteria of the United Nations Industrial Development Organization was to partner with Credit Unions and …we found that Grenada Public  Corporative Credit Union was the most suitable to work with.”

Credit Manager of the Grenada Corporative Credit Union League, Florence Williams said he demand from the public has been encouraging.

“The first tranche of US$10,000…which was matched by the Public Service Credit Union has been fully utilized and we have demand for almost $54,000.”

Since the inception of the programme in 2009, at least 12 homes have benefitted and Williams says there are plans to assist at least 50 more homes.



Category/ies:Grenada News.
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