Starting April 1, 2025, the Government of Barbados will make available a loan refinance facility under the Energy Smart Fund, aimed at supporting small and medium enterprises (SMEs) with stalled renewable energy projects.
The refinance facility will offer an interest rate of 3.75%, providing businesses with the financial assistance needed to advance their sustainable energy goals.
This initiative was announced by Minister in the Ministry of Finance, Ryan Straughn, during the 2025 Financial Statement and Budgetary Proposal. It forms part of the Government’s broader commitment to achieving 100% net-zero carbon emissions by 2035, a target that requires an aggressive expansion of renewable energy initiatives across the island.
In addition to the refinance facility, the Government is also set to launch Barbados’ first battery energy service procurement project.
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