The funding was announced by Baroness Chapman, UK Minister for Latin America and the Caribbean, during her meeting with Grenada’s Prime Minister Hon. Dickon Mitchell. It will go towards assessing the viability of developing the geothermal resources of Grenada, including the drilling of exploration wells.
The geothermal resources of Grenada has the potential to displace up to 55% of the country’s total electricity generation from diesel. This will enhance Grenada’s energy security, provide a cleaner environment for the residents and result in lower electricity rates for businesses and citizens.
“I am thrilled to announce £10m in new funding, which is supporting Grenada’s efforts to reduce its resilience on fossil fuels and transition to a more sustainable, locally sourced energy future. The investment in geothermal energy will not only help to lower energy costs for households and businesses, but will also lead to lower carbon emissions, an essential step in tackling the climate crisis we all face,” said Chapman.
This is an important part of the UK government’s commitment to supporting the Caribbean region in its journey towards green energy adoption and climate resilience”.
While there had been sustained interest to develop geothermal in Grenada for the better part of the last decade, progress has so far been limited to an Environmental and Social Impact Assessment report published back in 2019. A scoping report, also published in 2019, pointed to two potential development sites namely Tricolar, in Mt Reuil, St Patrick, in the foothills of Mt. St Catherine and Florida/Pleasance, up behind Gouyave in St John, again fairly close to Mt. St Catherine.
Prime Minister Mitchel expressed gratitude for the UK Government’s support: “We are grateful for the UK’s support in advancing our geothermal exploration project. This funding will allow us to assess the geothermal potential of Grenada and take further steps towards building a clean, sustainable and more affordable energy system for our country. We are excited about the possibilities that this project holds for our country’s future.”
