History was made here in St. Vincent and the Grenadines yesterday, May 6 when an official ceremony was held at Bamboo range to launch the drilling activities for the geothermal Energy project.
Monica La Bennett Vice–President (Operations) of the Caribbean Development Bank (CDB), speaking at the ceremony yesterday, said the occasion marked a significant first step in St Vincent’s part to future development and which the development bank is pleased to be a part of.
La Bennett stated that since 2014 the bank has taken on a part to energy efficiency, and they are working with various agencies to bring about energy efficiency in the region.
She added that “CDB has mobilized approximately $27 Million USD in grant and contingency recoverable grant funding to support the drilling stage and that SVG benefited from both human and financial arrangements for the project.
The project has the potential to put SVG on a sustainable path once successful, which would lead to lower energy cost for citizens and reducing the government’s energy cost”.
Drilling will commence on Wednesday.