costs as a major contributor to high production costs and as a corollary, a major deterrent to foreign direct investment as well as private sector investment, thereby limiting economic diversification. Member States universally identified adoption of renewable energy sources as a precondition for safeguarding the Region’s energy security, spurring broad-based private sector development, increasing FDI inflows, and facilitating export diversification. Accordingly, it is critical to take a coordinated approach to placing the Region on a more sustainable energy related development path.