CIBC FirstCaribbean has built a strong reputation, over more than a decade, as the region’s go-to lender for electric utility providers and Independent Power Producers (IPPs) seeking to bring the benefits of sustainable, renewable energy to the Caribbean.
Renewable energy (RE) refers to energy generated from natural sources and processes that are continually replenished as they are used. Examples of RE sources include solar, wind, geothermal and ocean tidal. RE is also commonly referred to as “green energy”. Within the context of the worldwide response to climate change, green energy sources such as solar- and wind-generated power are particularly desirable as they do not emit greenhouse gases that contribute to global warming.
Many Caribbean governments have announced commitments to growing RE use and decreasing dependence of their economies on fossil fuels. These initiatives will deliver benefits beyond simply a healthier and more sustainable environment. Increasing use of green energy sources will conserve valuable foreign exchange, make national energy grids more resilient, expand energy access by consumers and businesses, help to lower energy bills and create jobs.
CIBC FirstCaribbean is proud to be the leading financial institution in the regional RE space, having deployed more than US$150 million in financing of clean energy assets in the Caribbean and Central America (as at 2021). These projects together represent more than 130 megawatts (130MW) of installed capacity and are delivering clean, sustainable power to over 120,000 households.
Our market leadership arises from long-standing relationships with the Power and Utilities sector and a deep understanding of the regional energy landscape. We are the largest debt arranger and lender to regulated utilities and IPPs in the Dutch- and English-speaking Caribbean. Our deal pipeline includes financing of commercial-scale RE and other distributed generation installations. We have nurtured strong relationships with sovereign governments, corporations and independent investors, as well as other regional & international financial partners and development lending agencies.
In doing so, we have developed a particular focus on RE and sustainable infrastructure development. Our team of Corporate and Investment Banking professionals includes a cadre of RE financing specialists — the only one of its kind in the region. We are laser-focused on providing innovative solutions to the needs of our clients, however complex or challenging. Our experience and history of successful transaction execution distinguish CIBC FirstCaribbean from other regional lenders.
Our team is ready to partner with you on your next transformational transaction.
Let’s talk today.
Managing Director, Head Investment Banking
Tel: (246) 467-8712
Executive Director, Corporate Investment Banking & Advisory
Tel: (246) 467-8723
Tel: (876) 935-4702
Recent Transactions and Awards
“Project Finance Deal of the Year 2017” awarded by the Caribbean Renewable Energy Forum (CREF) for financing of the first utility-scale solar PV project in the Cayman Islands.
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