St. Vincent Geothermal Company Limited (SVGCL) and Jardboranir hf. (Icelandic Drilling Company, IDC) have today, November 29, 2018, signed a drilling contract for drilling 4 wells in St. Vincent and the Grenadines.
The wells are intended to supply steam for the geothermal power plant the St. Vincent Geothermal Company Limited is constructing.
The project aims to deliver a 10Mega Watts geothermal power plant to St. Vincent and the Grenadines (SVG), transforming this country’s energy sector, reducing its dependency on imported diesel, and providing a new sustainable and affordable source of energy based on an indigenous resource.
Once operational, the plant will supply substantially all of the country’s base load power and bring renewable energy sources to 73% of total power generation, well in excess of SVG’s Energy Action Plan target of 60% by 2020.
The commissioning of the plant is expected to be in approximately 2 years.
The development of the plant has been ongoing for some time with Civil Works starting in the second quarter of 2018 and turbines expected to be tendered out in 2019.
The St. Vincent Geothermal Company Limited is a public-private partnership owned by the Government of St. Vincent and Reykjavik Geothermal.
