WASHINGTON, D.C. - Secretary of State John Kerry today launched a clean energy initiative to catalyze new public and private sector investment in the Caribbean and Central America. The initiative, funded by the U.S. Agency for International Development and the Department of State, and implemented with the Overseas Private Investment Corporation and the U.S. Trade and Development Agency, will provide $10 million in its first year for crucial early-stage financial assistance to clean energy projects, bolstering energy and economic security in the two focal regions.

"We need to develop better pathways to sustainable development in new and emerging markets and we can't solve climate change at home if you ignore what is happening abroad," said Secretary Kerry. "We know that our neighbors in the Caribbean and Central America have an abundance of renewable energy resources yet they suffer from electricity shortages and high prices. Our goal is to find ways to accelerate collaboration across borders and sectors and I assure you, we in this Administration want to help move you forward, not hold you back, not stand in your way."

Introduced by President Obama in April, the Clean Energy Finance Facility for the Caribbean and Central America (CEFF-CCA) will help address the region's electricity shortages and high prices, and will maximize use of abundant renewable energy resources. It also will move the region toward greater energy independence by cutting down on imported fossil fuels and will lower greenhouse gas emissions.

Clean and renewable energy projects that can benefit from the Facility include:

• Power generation: Projects involving construction and operation of renewable energy generation facilities for connection to the national grid, local utilities, or distribution companies as well as distributed and off-grid renewable energy systems.  
• Market-based solutions: Projects involving sales, distribution and innovative financing for clean energy systems and products that improve efficiency, provide new access, or extend the hours of access to electricity. 
• Renewable energy infrastructure catalyzers: Projects that introduce or expand essential infrastructure or provide additional resources, which power sector actors may then leverage to expand renewable energy offerings to a target market. 

The announcement, made at the Secretary's Climate and Clean Energy Investment Forum, is part of President Obama's commitment to enhancing energy security in the Caribbean and Central America and to leading global efforts to address the threat of climate change.

For more information: CEFF-CCA Fact Sheet.

Secretary Kerry's remarks at the Climate and Clean Energy Investment Forum.