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Geothermal seen as key in economic renaissance of Montserrat

Geothermal seen as key in economic renaissance of Montserrat Site of Well MON-01, Montserrat, Caribbean (source: Montserrat government)
Alexander Richter 24 Jun 2014

Geothermal is to play a key role in the redevelopment of the economy of and attracting investment to Montserrat, a UK territory in the Caribbean.

The Caribbean island state of Montserrat, actually a UK territory, is seeing the development of a geothermal project as a key element in regenerating its economy.

Following the devastation by the eruption of the Soufriere Volcano in the mid-1990s, the Montserrat Development Corporation (MDC), is driving the development of a new capital city on the northwest coast of the island.

“MDC’s Master Plan for Economic Growth is preparing the island for redevelopment and the regeneration of private enterprise. The island’s rebirth gives rise to a unique investment opportunity, enabling developers and investors to be instrumental in the development of a new destination already equipped with a sustainable infrastructure.

Geothermal energy is playing a key role in the transformation of the island, making a sustainable investment opportunity that much more attractive.

With the creation and successful testing of two geothermal wells, the foundation has been laid for a geothermal energy program. Future development of a third well is backed by the United Kingdom government, which is evidence of their continuing support of the rebirth of Montserrat.

So far two geothermal wells have been drilled in the island’s exclusion zone. Previously a reminder of Montserrat’s past, the exclusion zone is now critical to the island’s future.

This visit-by-permit-only zone of the island is the location of Montserrat’s old capital city, the ash-laden town of Plymouth, a modern-day Pompeii now poised to become a major tourist attraction. In addition to revenue derived from tourism, the presence of geothermal energy in the region offers the opportunity for further economic growth.

Now, with geothermal coming on board soon energy prices will be significantly lower. The two geothermal wells will produce environmentally-friendly, long-lasting energy, sufficient to power the island in the near future. With forthcoming construction of a third well, it is anticipated a surplus of energy may be available.”

Source: Travel Agent Central