Policy paper

Caribbean Regional Platform and Global Clean Power Alliance Finance Mission: action plan

Updated 17 November 2025

The Global Clean Power Alliance (GCPA) Finance Mission is a timebound initiative, backed by a coalition of donor countries, philanthropies and delivery partners^{[footnote 1]}. It is designed to respond to specific requests for assistance from its Emerging Markets and Developing Economies (EMDE) partners, collaborating with them to ensure they have the right people, tools and capabilities to undertake high quality energy investment planning^{[footnote 2]}, and to build a pipeline of bankable projects to accelerate the implementation of clean energy transition goals.  

The Caribbean is pioneering and prioritising a regional approach to its energy transition to meet challenges posed by the scale of Small Island Developing States (SIDs). Barbados is a partner country to the GCPA Finance Mission. As such, the GCPA Finance Mission will work in accordance with Barbados and Caribbean priorities to implement regional energy initiatives with an initial focus on the Caribbean Regional Platform (C-RP), whose Secretariat is housed within the Caribbean Development Bank (CDB). The GCPA Finance Mission will therefore work closely with the CDB, the CARICOM Secretariat, and the Caribbean Centre for Renewable Energy and Energy Efficiency (CCREEE) as key regional representatives and decision-makers in the implementation of the C-RP. [The GCPA Finance Mission will also coordinate and work with a wider set of partners who have taken a leadership role in driving forward the Caribbean’s regional energy transition, for example with the Eastern Caribbean Central Bank (ECCB) and Organisation of Eastern Caribbean States (OECS).] The GCPA Finance Mission’s approach will also bolster and work alongside other regional energy transition initiatives and platforms, including the World Bank’s Caribbean Resilient Renewable Energy Infrastructure Investment Facility project (RREIIF).

The C-RP was launched by Mia Mottley, Prime Minister of Barbados, in June 2025. It is focussed on scaling up greater domestic and international investment and climate finance to three thematic areas: energy, transport and education, with the education theme taking a cross-cutting approach. Individual member states committed to the platform include Barbados, the Bahamas, Grenada, Guyana, St. Kitts & Nevis and Trinidad & Tobago. It was launched with the support of the Green Climate Fund (GCF) with committed funding from its Readiness and Preparatory Support Programme.

With this in mind, and in response to specific requests for assistance received from the CDB, the CARICOM Secretariat, and the CCREEE in the clean energy sector, the GCPA Finance Mission and its partners commit to making the fullest and best endeavours to implement the following initial set of priority actions through to COP32:

1. Private finance capacity building:

a. GCPA Finance Mission delivery partners will extend a targeted capacity-building programme for RP-Caribbean Secretariat staff and other targeted regional agencies, provided by private finance experts. This will be funded either by GCPA Finance Mission donors, from UK bilateral ODA or philanthropically

b. In response to specific requests, the GCPA Finance Mission will provide dedicated locally sourced and internationally supported private finance experts to work within C-RP structures (potentially within the C-RP’s Private Finance Unit) to support the delivery of Caribbean clean energy investment planning processes and to help coordinate and align GCPA Finance Mission support most effectively in line with the wishes of Caribbean partners

c. [The GCPA Finance Mission will explore the establishment of dedicated, permanent private finance institutional capability (for example, through a Caribbean Green Finance Institute) to support existing structures and organisations with international private finance expertise.]

2. Project readiness and bankability support:

a. The GCPA Finance Mission will support the C-RP to identify and develop a regional Investment Plan and first-mover projects. Finance Mission delivery partners will provide bespoke expert scrutiny, feedback and recommendations to these projects to ensure they can obtain private capital where such funding/investment is desired, supporting Caribbean partners in the strategic deployment of capital and in the creation of an enabling environment

b. The GCPA Finance Mission will support the C-RP with project aggregation as a key priority with potential consequent benefit for the investability of the Caribbean, ensuring complementarity with other initiatives operating in this area, such as the RREIIF project

c. Agree a short-list of these priority clean energy projects for focused and tailored project readiness and bankability support^{[footnote 3]} with a view to rapid progression towards Final Investment Decision (FID)

d. Potentially support investor forums and roundtables for priority projects, in line with regional priorities and interest

3. Access to technical assistance:

a. Support the C-RP to access, mobilise and navigate the international landscape of technical assistance to address upstream barriers that inhibit project bankability

4. South-South private finance learning: Establish and facilitate bespoke bilateral or plurilateral workshops, trainings, visits or similar mutual learning opportunities between South-South partners on priority topics for the Caribbean, including, but not limited to:

a. Unlocking private finance behind regional power pools, grid interconnection and integration projects

b. Successful private finance mobilisation behind priority Caribbean renewable generation projects identified under (2)

c. Decarbonisation of the transport sector (e-mobility, decarbonisation of ports – air/sea)

d. [Others TBC]

The GCPA Finance Mission will coordinate and deliver the activities, working with the Green Finance Institute and World Bank and in close partnership with CARICOM, CDB and CCREEE-nominated local partners, as well as the Glasgow Financial Alliance for Net Zero (GFANZ). At all times, the GCPA Finance Mission will work in spirit of equal partnership, collaboration and respect with CARICOM, CDB and CCREEE. The GCPA Finance Mission will always endeavour to work flexibly with CARICOM, CDB and CCREEE’s existing activities and delivery partners to ensure its activities are well-coordinated, additional, and complementary. The GCPA Finance Mission will seek to mobilise and work with local expertise, resources and capacities wherever possible.

This Action Plan will remain a live document, with opportunity to update the details, scope and breadth of support as work unfolds and in accordance with demand from nominated Caribbean partners. A formal review and update of this Action Plan will take place by COP31.

1. See Global Clean Power Alliance: organisations finance statement - GOV.UK ↩

2. In line with the GCPA Finance Mission’s Roadmap on High Quality Energy Investment Planning. ↩

3. Subject to the expert scrutiny, feedback and recommendations, this support could include any or all of the following support activities: formal market soundings to provide bespoke project bankability assessments and recommendations; support applications to sources of concessional finance where needed; legal contracting; EIAs; licensing support; financial modelling; establishing rates of return; late-stage feasibility studies, financial instrument design, and more. ↩