President Obama Announces USTDA’s Involvement in Clean Energy Finance Facility for Central America & The Caribbean
ARLINGTON, VA – Last week, President Obama announced the launch of the Clean Energy Finance Facility for the Caribbean and Central America (CEFF-CCA). Drawing upon the expertise of the U.S. Trade and Development Agency and the Overseas Private Investment Corporation, and in coordination with the U.S. Agency for International Development and Department of State, the $20 million facility will catalyze public and private sector investment to support clean energy projects in the region.
“USTDA is proud to work with its interagency partners in this effort that will provide early-stage funding to drive investment in clean energy development,” said Regional Director for Latin America and the Caribbean, Nathan Younge. “The Agency’s activities under CEFF-CCA will build upon our strong portfolio of projects in the region, including a grant agreement we signed last week for smart grid development to support Panama’s efforts to modernize its electricity distribution network.”
USTDA provided a grant to Panamanian electric utility Elektra Noreste, S.A. (ENSA) to support the deployment of a smart grid pilot project. The pilot project will improve the reliability and efficiency of ENSA’s network, which distributes electricity to more than 360,000 customers in Panama. ENSA has selected Innovari, Inc. (Austin, Texas) to pilot a demand side management system to better manage peak demand and more efficiently utilize its generation, transmission and distribution resources.
This pilot project, which will help Panama meet its clean energy goals, represents the Agency’s renewed focus on its partnership with Panama.