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St Vincent and the Grenadines geothermal energy drive
KINGSTOWN, St Vincent — St Vincent and the Grenadines took a major step towards a cleaner and more secure energy future Monday, May 6, launching a multi-million-dollar geothermal energy-drilling project made possible with financing mobilised by the Caribbean Development Bank (CDB).
CDB secured US$27 million in financing for the project through contributions from partners, including the Inter-American Development Bank (IDB), the United Kingdom’s Department for International Development (DFID), the European Union’s Caribbean Investment Facility (EU-CIF) and the government of New Zealand.
Speaking at the launch ceremony, Vice President of Operations of CDB, Monica La Bennett shared the context behind the bank’s heightened involvement in the renewable energy sector in recent years.
“Over the past five years, the promotion of renewable energy and energy efficiency has been the focus of the bank as a means of increasing energy security in many of our borrowing member countries. The cost of energy in the region is among the highest globally; and this impacts our competitiveness, [and] growth prospects and [it also] makes us vulnerable to oil price volatility. Thus, CDB has been supporting the use of our natural resources, solar, wind and geothermal, to produce clean and lower cost energy,” La Bennett said.
The vice president thanked CDB’s partners for their “vision and … willingness to collaborate” on the project as well as…
St Vincent and the Grenadines geothermal energy drive
KINGSTOWN, St Vincent — St Vincent and the Grenadines took a major step towards a cleaner and more secure energy future Monday, May 6, launching a multi-million-dollar geothermal energy-drilling project made possible with financing mobilised by the Caribbean Development Bank (CDB).
CDB secured US$27 million in financing for the project through contributions from partners, including the Inter-American Development Bank (IDB), the United Kingdom’s Department for International Development (DFID), the European Union’s Caribbean Investment Facility (EU-CIF) and the government of New Zealand.
Speaking at the launch ceremony, Vice President of Operations of CDB, Monica La Bennett shared the context behind the bank’s heightened involvement in the renewable energy sector in recent years.
“Over the past five years, the promotion of renewable energy and energy efficiency has been the focus of the bank as a means of increasing energy security in many of our borrowing member countries. The cost of energy in the region is among the highest globally; and this impacts our competitiveness, [and] growth prospects and [it also] makes us vulnerable to oil price volatility. Thus, CDB has been supporting the use of our natural resources, solar, wind and geothermal, to produce clean and lower cost energy,” La Bennett said.
The vice president thanked CDB’s partners for their “vision and … willingness to collaborate” on the project as well as…
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It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
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