EIB backs Caribbean geothermal energy scheme

The European Investment Bank (EIB) has agreed to fund preparations for possible use of geothermal renewable energy to replace fossil fuels in the Caribbean. Potential electricity generation capacity from geothermal resources and feasibility of connections to other islands will be examined under the technical assistance programme to start shortly. EIB, the European Union’s long-term lending institution, will provide a EUR 1.1 million grant to enhance detailed planning and study the feasibility of exporting electricity generated by geothermal energy from Dominica to neighbouring islands Martinique and Guadeloupe. The EIB’s support will evaluate a possible northern submarine interconnection from Dominica to Guadeloupe and a second link to Martinique in the south. Once the feasibility of cross-border interconnections is determined, subsequent studies will define the characteristics of the sub-sea cables and assess the environmental impact of the planned interconnection. EIB’s contribution will assist a project that has the potential to develop a 20 MW geothermal power generation plant for local use and a subsequent plant of up to 120 MW for export. Currently, the Government of Dominica, supported by the European Union …