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Scottish Economy To Benefit From Multi Billion Renewable Energy Agreement With IDB For Latin American And The Caribbean

Scotland’s world-leading expertise in developing low carbon technologies can play a role in advancing clean energy developments in Latin America and the Caribbean thanks to an innovative new partnership.

Environment Secretary Richard Lochhead has signed an agreement between the Scottish Government and the Inter-American Development Bank (IDB) which will promote Scottish expertise in the development of clean energy technology and projects in Latin America and the Caribbean.

The Memorandum of Understanding with the IDB comes on the back of the Bank’s plans to increase its financing for renewable energy and climate related projects to three billion dollars by 2012.

This will be funded through the IDB’s Sustainable Energy and Climate Change Initiative (SECCI), which supports low carbon energy options in Latin America and the Caribbean and is a vital element of climate change programmes in the region, which are being discussed at this week’s UN climate change talks in Mexico.

Mr Lochhead met in Washington with the Robert Vellutini, IDB’s Vice President for Countries, to formally sign the MoU between The Scottish Government and the IDB.

Mr Lochhead said:

“Scotland is determined to be a world-leader for innovation and collaboration in low carbon technologies.

“This agreement with the Inter-American Development Bank is the latest positive example of Scotland’s expertise in developing clean energy technology reaching new audiences and emerging markets.

“It is a strong part of our approach that the low carbon economy can deliver economic benefits as well as better climate protection.

“The IDB confirmed earlier this year that they intend to increase financing for renewable energy and climate-related projects to three billion dollars by 2012.

“Scotland has been very keen to pursue positive collaboration opportunities with the IDB, and this Memorandum of Understanding will encourage joint working and promote programmes and projects that allow the IDB to draw upon world-leading Scottish expertise.

“Scotland’s many strengths and great experience in low carbon projects and energy efficient technologies will allow the bank to help its developing member countries to respond to climate change challenges.

“In particular, today’s signing will allow a dedicated Working Group to be set up early next year with a focus on identifying joint projects, best practice sharing, research and exchange programmes in all sectors of clean energy technology and policy.

“A low carbon economy is the biggest opportunity this century. Scotland is a leader in the global low carbon market and in line with our recent Low Carbon Economic Strategy, this is yet further demonstration of Scotland seizing new opportunities and capitalising on our vast comparative advantages.”

Mr Vellutini added:

“Assisting our borrowing member countries in meeting the challenges posed by climate change is one of the top priorities of the IDB. This MoU is a practical example of how to tap into the expertise and innovation from within Member Countries to support that effort.”

Category/ies:Regional News.
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