President of the Caribbean Development Bank, Dr. Hyginus ‘Gene’ Leon, has revealed borrowing member countries need to invest more in the renewable energy sector if they wish to achieve energy targets.
According to him, the 75 million US dollars which member states invest on average yearly, is a far cry from the billions needed.
He provided the assessment at the opening of the Regional Regulatory ASERT-2030 dialogue, at the Hilton Barbados Resort.
The Bank brought together energy sector stakeholders from across the region for the talks aimed at developing a comprehensive assistance programme to support the acceleration of the energy transition in borrowing member countries.
Additionally, Dr. Leon suggests the role of the regulator in the renewable energy arena needs to be reviewed and expanded to match the changes in the field.
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