St lucia geothermal energy storage

How will Saint Lucia's geothermal project benefit the private sector?

This grant financing will help the Government of Saint Lucia assess the viability of its geothermal resources for power generation and strengthen the business environment for the private sector to pursue clean energy projects. “This project will help the country evaluate how geothermal energy can contribute to the country’s national energy mix.

Why is electricity so expensive in Saint Lucia?

Over 55 percent of firms identify the high cost of electricity as a major constraint to doing business in Saint Lucia. While electricity is supplied reliably, the country remains almost completely dependent on expensive imported fuels for diesel-based generation.

What are the benefits of geothermal energy in the Caribbean?

Clean energy from geothermal sources can improve electricity system reliability and reduce the cost of oil imports. Transitioning to renewable energy would also decrease the country’s vulnerability to the volatility of fuel markets.” said Lilia Burunciuc, World Bank Country Director for the Caribbean.

How can geothermal energy contribute to the national energy mix?

“This project will help the country evaluate how geothermal energy can contribute to the country’s national energy mix. Clean energy from geothermal sources can improve electricity system reliability and reduce the cost of oil imports.