The IDB is offering awards of up to US$200,000 to persons, enterprises and organisations in the Caribbean to submit proposals that promote sustainable energy to its 2012 IDEAS Energy Innovation Contest. The Guyana launch is set for next Tuesday.
According to a press release, UKAid from the Department of International Development (DfID), GVEP International, South Korea and the Inter-American Development Bank (IDB) are hosting the contest to develop innovative ideas to boost energy efficiency and expand access to renewable energy in the Caribbean. Applications from Antigua and Barbuda, the Bahamas, Barbados, Belize, Dominica, the Dominican Republic, Grenada, Haiti, Jamaica, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines, Suriname, Trinidad and Tobago and Guyana are invited.
The contest, which has a regional marketing campaign, “What’s your bright IDEA?” is intended to promote innovative solutions to energy problems that have local or regional benefits, provide jobs and reduce greenhouse gas emissions. In addition to the US$200,000 award, winners will also benefit from technical and business development support to implement or scale-up their ideas.
“Individuals, enterprises and organisations based in the Caribbean are also invited to submit proposals focusing on adoption, innovation, assimilation, development and transfer of technologies in renewable energy, energy efficiency, climate change mitigation and fossil fuel substitution by April 30,” the release said. Applications should be submitted electronically – details and guidance are available at www.iadb.org/ideas Grant winners will be announced on July 15.
Simone Banister, Climate Change Adviser at DfID Caribbean said energy in the region is currently produced almost exclusively from imported fossil fuels. “As a result, consumers are paying high prices for electricity, transport fuels and other forms of energy. So far, the use of alternative sources of energy, particularly renewables, has been limited.” However, she also noted that the region has great potential for economically and environmentally sustainable enterprises in renewable energy and energy efficiency. “Simple innovations could have a dramatic effect on energy supplies, prices and the way businesses and markets operate in the region,” she said.
In addition, IDB Lead Energy Specialist, Arnaldo Vieira de Carvalho said, “Local innovation and the adaptation of existing technologies to local circumstances are key to boosting the competitive supply of renewable energy services and tackling environmental concerns.”
