What’s Behind Caribbean’s $30B Energy Makeover?

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June 20 (Bloomberg) -- Caribbean Development Bank President Dr. Warren Smith discusses the Caribbean’s $30 billion energy investment on “The Pulse.” (Source: Bloomberg)

We know you have geothermal and you have sunshine and wind.

The opportunity for renewables is enormous.

How do you make the transition?

The transition will be made possible by creating an environment where private capital can come in and take advantage of the huge returns that are possible because of what is now very inefficient environment.

So that what needs to happen is we need to focus on creating that regulatory environment, which will induce the private sector to take advantage of that $30 billion possibility that is there.

A lot of small islands of small countries.

What you need to do is figure out a way to be one, i.e., link everybody up and make it a lot more efficient.

You are on the right track, but it is not going to be possible to link up everybody on the islands, recognizing that we are -- yes.

So the technology, i do not think the technology is there yet but there is opportunity for interconnectivity.

That has got to be part of the solution to the puzzle.

So that where you have small islands with large capacity for production, what you need to do is to interconnect them to nearby islands or landmasses which need cheaper energy.

Timescale?

We are saying medium-term, meaning over the next five to 10 years.

It is a big project, but it is exciting because it holds great prospects for the economic development of all the caribbean.

What we're talking about here is the possibility of combining renewable sources with also energy efficiency measures, which will make us more competitive by driving down the cost of energy and also opening the possibilities to new industries.

If you ever want anyone to

This text has been automatically generated. It may not be 100% accurate.

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