St. Vincent takes next steps in geothermal development
The government of St. Vincent in the Caribbean has been authorised to secure a loan for a 10 MW geothermal project, which is expected to start construction by early 2018.
St. Vincent and the Grenadines in the Caribbean, is taking the next steps into the development of a geothermal project on St. Vincent.
Last week, the parliament passed a bill that authorises the government to secure a loan to assist in financing the development of geothermal energy. We reported about the $15 million loan earlier.
At the same time, there are community meetings planned to inform neighbours to the potential site of the project.
The Prime Minster and Minister of Energy, Dr. Ralph Gonsalves reported to the parliament that a lot of work has already been done in relation to the geothermal energy project and outlined some of the work to be carried out this year.
Dr. Gonsalves said the Geothermal Plant is scheduled to be constructed between March, 2018 and April, 2019, and added that the plan is to have about 10 megawatts of geothermal capacity installed in the first instance.
According to Dr. Gonsalves, the development of Geothermal Energy is expect to provide this country with a reliable supply of energy, savings of foreign exchange and cheaper energy over the medium term, as well as enhanced wealth creation.