St. Vincent and the Grenadines: Government Increases Share in Geothermal Power Project

Gov’t To Own Bigger Share of Geothermal Plant (IWN)

The government of St. Vincent and the Grenadines will now own a 49 per cent stake in the geothermal plant being developed in the country.

Originally, Emera and Reykjavik Geothermal, two foreign firms, were to own 75 per cent of the plant, with the remainder going to the government.

But Prime Minister Ralph Gonsalves said on radio Tuesday night that the US$100 million dollar deal has been renegotiated.

The geothermal project was initially scheduled to come on stream this year, but it is not clear whether the government still intends to meet that target.

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From the Global Geothermal News archives:

• Wednesday, September 21, 2016 - St. Vincent and the Grenadines: Outreach to Locals by St. Vincent Geothermal Company
• Thursday, May 19, 2016 - St. Vincent and the Grenadines: Additional Funding Received for Geothermal Energy Project
• Wednesday, May 11, 2016 - St. Vincent and the Grenadines: Geothermal Energy Development Project ESA