Clean Energy Financing Forum for Central America and the Caribbean (CEFF-CAC)
The CTI PFAN Clean Energy Financing Forum – Central America and the Caribbean (CEFF-CAC) Business Plan Competition showcased promising clean energy projects in front of the regions’ leading investors. The Forum actively sought innovative clean energy projects that are financially viable, socially responsible and environmentally beneficial.
The Forum was sponsored by the Climate Technology initiative (CTI), the CTI’s Private Financing Advisory Network (CTI PFAN), the Energy and Climate Partnership of the Americas (ECPA), and the U.S. Agency for International Development (USAID), with support from the International Center for Environmental Technology Transfer (ICETT). Co-Organizers included the Honduran Association of Renewable Energy Producers (AHPER), the Private Sector Organization Jamaica (PSOJ) and Banco Atlantida, Honduras.
The Forum was held at the Intercontinental Hotel in San Pedro Sula, Honduras, and had 81 participants, including local and international investors, policy makers, clean energy project developers.
Competitively selected projects received intensive coaching from CTI PFAN. Superior clean energy investment opportunities were presented to potential investors and financiers at the Forum. The best 3 projects of the 19 selected projects, as adjudged by an independent panel of judges, were awarded with the CTI PFAN CEFF-CAC Clean Energy Financing Awards.
“The potential of the Central America and Caribbean renewable resource base has long been known. CTI PFAN is very pleased to be able to contribute to tapping that potential for the residents of these regions, ” said Mr. Peter Storey (CTI PFAN Global Coordinator) in his opening remarks.
The Finalists presented their project to the Forum in a 15-minute investor pitch and participated in the business plan competition. The Semi-Finalists received coaching for business plan development and participated in the Workshops, but did not present their projects at the Forum.
The 10 Finalist projects came from three Central American Countries (Costa Rica, Honduras, Panama) and four Caribbean countries (Dominican Republic, Guyana, Jamaica, and Trinidad & Tobago) representing USD 194 million of total investment. Technologies deployed by the projects include biogas, biomass gasification, bio-fuels, hydropower, and waste-to-energy generation technology.
The scoring was extremely close and in the end the judges decided to award 3 winners: AHT, Panasolar S.A., and Ecologia y Eficiencia
In the meantime, all of the Finalist projects and 7 of the Semi-Finalists have been inducted into the CTI PFAN development project pipeline.
Mr. Patrick J. D’Addario, CTI PFAN Regional Coordinator for Latin America and the Caribbean, said “Investors have expressed interest in at least 6 of the 10 CEFF-CAC finalist projects. This demonstrates once again true importance of CTI PFAN’s addressing the missing middle between project developers and investors.”
Mr. Marco Tulio Ruiz, Corporate Vice President of Banco Atlantida, a CEFF-CAC Co-Organizer, stated that “As Banco Atlantida begins its second century reaffirming its commitment to a clean and sustainable energy future for Honduras, it could have no more appropriate partner than CTI PFAN.”
According to Mr. Walter Vargas of Root Capital, CTI PFAN “gave an opportunity to developers to shine and demonstrate in a business environment their projects. It is our belief and part of our mission to support small growing businesses in developing countries, and this Forum is aligned with this mission. For Root Capital was an honor to be part of this initiative, and hoping in the future we continue to be part of it.”
Overall there was a high level of satisfaction with all areas of the Forum organization, logistics and content. Developers’ responses illustrate that one area that still requires further thought and refinement is to orient the entrepreneurs a bit better on how to interact with the investors.