Steam red pepper in a steamer basket over boiling water in a large pot with lid for 10 minutes or until softened. Allow to cool for 5 minutes or so.
Using a food processor or blender, puree your softened pieces of red pepper.
Because we are making a sauce, let's refine it one more time by pushing your processed red pepper puree through a mesh strainer into a medium mixing bowl.
Now, whisk in all remaining ingredients. Because there is so much variance in bell pepper size and sweetness, this is a great time to grab a clean spoon and taste the sauce. Adjust the seasonings to your liking.
Serve your sweet red pepper sauce over eggplant, roasted vegetables or fresh baked potatoes.