The Caribbean Development Bank allocated $17 million for the development of a geothermal project on the island of Nevis, according to an article by leading geothermal news source ThinkGeoEnergy.com.
In early December, the Bank approved the multi-million dollar grant as the project advanced to the drilling stage. With up to three wells to be drilled, the project’s end goal is a renewable power plant with an output of 10 megawatts.
The island’s population totals around 12,000, with an energy demand that would be more than met by the geothermal plant in development. Nevis and its neighbouring island of St. Kitts make up just one of many Leeward island nations in the Lesser Antilles, and currently generate electricity through the combustion of imported diesel.
According to the Inter-American Development Bank website, all Caribbean nations have ratified the Paris Agreement, meaning substantial emissions reductions must be achieved by the year 2030. ThinkGeoEnergy’s Alexander Richter quoted Daniel Best, director of projects for the Caribbean Development Bank as saying:
“the project will go a long way to helping the Federation realize their sustainable energy goals. These include transitioning from fossil fuel-based electricity generation to entirely renewable, while expanding generation and developing an interconnection between the two islands.”
Click here to read the full article by ThinkGeoEnergy.
While Nevis and St. Kitt’s do have individual power supply companies, the islands experience power losses of up to 20%, which OffgridInstaller.com hypothesizes are due to maintenance issues.
Renewable energy sources make up less than 6% of the country’s energy generation, despite being uniquely poised for the high solar potential of lengthy, sunny Caribbean days. But the development of geothermal is ramping up in the region, and not just due to the recent CDB grant.
Eavor Technologies Inc and Getech, a United Kingdom-based geo-energy and green hydrogen company have signed a strategic partnership agreement to locate and develop multiple geothermal projects across Latin America.
The Inter-American Development Bank has cited the region’s geothermal capacity as between 55GW and 70GW. Getech and Eavor will use both parties’ proprietary technologies, Heat-SeekerTM and Eavor-LoopTM respectively, to advance the development and deployment of green, clean energy sources for the over 44 million Caribbean residents.