Stakeholders to discuss way forward for SVG in geothermal energy

Now that St Vincent and the Grenadines has secured concessional funding of US$15 million from the project facility of the International Renewable Energy Agency (IRENA) and the Abu Dhabi Fund for Development (ADFD) towards this country’s development of geothermal energy, a stakeholders’ meeting will be held from February 16 to 20 to discuss the way forward.{{more}}

Speaking in Parliament on Tuesday, as he wrapped up debate on the 2015 Budget, Prime Minister Dr Ralph Gonsalves said partners of the project, Emera and Reykjavik Geothermal, an Icelandic company, will be here to discuss several matters.

Gonsalves said that on February 17, representatives from the company will visit the proposed drill site on the eastern slope of La Soufriere and while there, will address matters relating to resource, infrastructural assessment, drilling site and construction requirements.

The following day, they will meet with Government and other stakeholders to update them on the status of the project; including recommendations with regard to the proposed drilling site and the project itself.

“There will be discussion with the Government and the stakeholders on ideas for use of the US$15 million concessionary loan. Of course, that final determination will be made by the Government itself,” the Prime Minister said.

Furthermore, discussions will be held with the St Vincent Electricity Services Ltd (VINLEC), on transmission requirements and confirmation on requirements for landing and transport of drill rig and equipment, among others.

The team will also visit VINLEC’s generation, transmission and redistribution systems to discuss the operational aspects of the project.

The Prime Minister said in March, a business plan should be submitted to the Government by Emera and at the end of May, the Government will meet again to further discuss the business plan.

Some 80 countries around the world applied for support from IRENA and ADFD for renewable energy projects. Of the 80, five renewable energy projects in St Vincent and the Grenadines, Argentina, Cuba, Iran, and Mauritania were selected for funding, totalling US $57 million.