Four reasons to engage in Haiti’s renewable energy sector this year
By Stephanie Nsom, Energy Specialist, The World Bank
Read on for four reasons to engage in Haiti’s energy sector in 2018.
- As the first promising outcomes of Government commitment, the President has launched - in July last year – an initiative called Caravan of Change that targets infrastructure improvements including electricity access. In addition, Haiti’s Government has waived custom duties on all solar and wind energy products and appliances from 2017 onwards. Furthermore, and following the recent creation of the regulatory body ANARSE for the energy sector, the President has nominated its first Director General who will set-up a regulatory framework providing investment security to the private sector.
- The World Bank, the Climate Investment Funds and other donors have put in place substantial incentives to facilitate the entry of private capital into the market. With the recent approval of two grants totaling USD35 million to improve access to electricity for more than two million Haitians, and to scale-up investments in renewable energy in underserved rural and urban areas, Haiti underscores its readiness for investment.
- The Government of Haiti - with support from the World Bank - will launch the Off-Grid Electricity Fund (OGEF) in mid-2018. With an initial investment of USD17.22 million, OGEF will provide financing and market development support to commercially viable businesses and enterprises that can provide modern energy services in rural and peri-urban areas of Haiti. The Fund will jointly be managed by an International Fund Manager and the Industrial Development Fund (FDI-Haiti). The envisaged lifetime is 10 years. OGEF is intended to play an integral role in Haiti’s transformation to a modern and sustainable energy system, with strong support from the private sector.
- Haiti has significant renewable energy resources, particularly biomass, hydro, wind and solar, and off grid electrification has great potential. More and ever better data around opportunities for deployment are available. Over five million people could be reached through solar photovoltaic (PV). Yet, only one in three Haitians has access to electricity, and access is very limited in rural areas.