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THE NATIONAL ENERGY POLICY OF GRENADA

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THE NATIONAL ENERGY POLICY OF GRENADA ( the-national-energy-policy-grenada )

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GOALS AND POLICIES N Ensure the optimal number of days of storage capacity (Strategic Petroleum Reserve) to prevent energy supply disruptions; N Ensure that significant onshore and offshore hydrocarbon projects are subjected to full and rigorous Environmental and Social Impact Assessments; N Build up the necessary national human and technical capacity to contain and clean up oil spills in case of calamities; N Incorporate into its offshore regulatory framework any lessons learned from the Deepwater Horizon incident in 2010, in the Gulf of Mexico, recognising the potential disastrous results of a similar incident occurring in the waters of the eastern Caribbean. N Seek to join with other territories in the region in order to create economies of scale for viable production and access to cleaner energy supply alternatives (including e.g. low sulphur diesel (<50 ppm sulphur) originating from regional located refineries); N Reject any kind of fossil fuel based power plant development (in particular coal-fired) not in line with the principles and objectives outlined in this policy; and N Continue to participate in PetroCaribe and other regional initiatives such as the recently launched Energy and Climate Partnership of the Americas (ECPA) provided that the initiatives are and remain compatible with the objectives and principles of the national energy policy. 3.4 RENEWABLE ENERGY The Government of Grenada acknowledges the great indigenous renewable energy potential Grenada possesses and the need to properly assess the renewable energy resources development potential (including wind, solar, geothermal, and other future alter- natives) to allow tailoring specific incentives and regulations to accelerate the introduction and deployment of renewable energy technologies (RETs). In particulary, the Government of Grenada aims to prioritize the investigation of Grenada’s geothermal energy potential that is deemed an attractive renewable energy resource that can change the energy sector significantly and transition to a lower national carbon footprint. Furthermore, the GOG recognises the energy, economic and socio-environmental benefits to be derived from pursuing all available RETs and integrating them into the national energy mix. Some key objectives for the GoG are: N Prioritize the use of Grenada’s indigenous renewable energy sources to provide maximum economic performance and growth; N Reduce the national carbon footprint; N Transition the country to a sustainable energy community predicated primarily on renewable energy sources; and N Position Grenada to create sustainable jobs and build resilience in its economy. 8 GRENADA

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