The Geothermal energy project for St Vincent and the Grenadines is expected to make leaps and bounds this year 2018.
The country expects to cover up to 50% of its energy need by geothermal energy.
Information from the Prime Ministers Office is that Vinlec will sign off very soon on the power purchase agreement, with the consortium in respect of the project.
The Office noted that the signing of the agreement took a longer time than anticipated, due to the nature of the details involved.
Financed by partners, including the Clinton Global Initiative, the Abu Dhabi Fund for Development, the Caribbean Development Bank, the International Renewable Energy Agency, it is expected that this can be achieved by 2019.
Prime Minister Gonsalves speaking on the radio said he was advised of the recommendations from the board of directors at Vinlec the state electricity company following discussions with the management.
Gonsalves has spoken constantly about the country’s quest for affordable and clean energy.
Another 30% of its energy supply is to come from a mix of other renewable energy sources, including hydro and solar.
A number of public meetings on geothermal development in St. Vincent & the Grenadines have already taken place as advance plans for the development of the 10 to 15 Megawatt Power Plant in the vicinity of La Soufriere Volcano continues.