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South Korean company with potential interest in Caribbean Saint Lucia

St Lucia - view of the Pitons from Anse Chastenet (source: flickr/ heatheronhertravels creative commons)
Alexander Richter Alexander Richter 22 Aug 2012

South Korean East West Company shows an interest in investment into renewable energy development in the Caribbean island state of Saint Lucia, as announced by a government minister having recently been on a visit to South Korea.

Following a visit of the Minister for Foreign Affairs of Caribbean island state Saint Lucia to South Korea, he reported that there is interest in investing in renewable energy projects in the country.

On his visit, he held talks with the Korea East West Company Limited (EWP) and presented renewable energy options in Saint Lucia.

EWP has a partnership with Japanese Marubeni and already invested in the Caribbean. It owns 40 percent of power provider Jamaica Public Service company, Marubeni holds 40 percent and the Jamaican government 19.9 percent.

The island state is looking at decreasing its dependency on oil-based power generation and sees geothermal as an option.

Canadian/ American group Qualibou Energy has been looking at developing a geothermal project in Saint Lucia.

Source: Jamaica Gleaner