Monday, April 11, 2016

St. Lucia: Good Progress in Geothermal Power Project

LUCELEC set to meet with proposed geothermal developer to utilize geothermal energy in St. Lucia (St. Lucia News Online)

The recently completed surface exploration studies, designed to better understand the geothermal resource conditions, suggest that the resource exists outside of the Sulphur Springs area and outside of the Piton Management Area (PMA). This is good news as earlier concerns about threats to the integrity of the PMA by this project will now be precluded.

The final technical report on these surface exploration activities will be discussed at a series of high level geothermal meetings from April 12-14, 2016 at the Bay Gardens Inn, Rodney Bay.

In addition, meetings will be held between St. Lucia Electricity Services Limited (LUCELEC) and the proposed geothermal developer to reach consensus on a term sheet towards the signing of a Power Purchase Agreement (PPA), and a term sheet between Government and the geothermal developer to reach consensus on a Geothermal Development Agreement (GDA).

This week`s meetings will further advance the Geothermal Resource Development Project. It is expected that this phase of the Geothermal Development Project should be completed by the first quarter of 2017, with a view to commencing exploratory drilling in a new resource development area by 2018.

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