Saint Lucia Geothermal Project
World Bank and Saint Lucia have formed a deal that will provide $22 million in grant money for geothermal exploration of the Caribbean island. The plan is for the Renewable Energy Sector Development Project, where Saint Lucia hopes to assess the potential of geothermal resources for energy generation. Using geothermal resources, Saint Lucia could provide power to the island and help strengthen businesses with a clean energy project.
According to Lilia Burunciuc, World Bank Director, the project’s goal is to evaluate geothermal energy and how it can be added to Saint Lucia’s power source. Geologically, it is thought that geothermal sources offer cleaner energy and will improve the reliability of an electrical system, which reduces the need for oil imports. The Saint Lucian government hopes that if they can decrease the demand for oil, there will be more money for island projects and provide the stability that a volatile fuel market cannot.
High electricity prices in Saint Lucia prevent business and local economic growth. It is a strain that the pairing will hopefully correct. Exploratory drilling and technical assistance are part of the project. Women are also being asked to apply for technical jobs in the energy sector or seek the knowledge to gain employment in the industry, which the project will support. Part of the grant is to provide funding for educational programs plus employment options.
For travel, little will change, but you will have the knowledge that Saint Lucia is working for a greener environment supporting women in the workforce. Canada, the UK, and other international energy facilities are behind the grant. There are also funds from the IDA, International Development Association, which are interest-free for 40 years and a grace period of 10 years.
Saint Lucia could be a forerunner in this energy concept.