The United Kingdom Department for International Development (DFID) will source the funding for specialist and technical expertise for the ongoing geothermal project on the British Overseas Territory of Montserrat.
Montserrat, part of the Leeward Islands, is known for its volcanic activity, a resource it has turned to its advantage through the development of this geothermal energy project. It is expected that geothermal power production will provide the base load of energy for the island, alongside solar PV, with diesel being used very occasionally.
Hon. Minister of Energy Paul Lewis shared the data gathered by his Ministry, which indicates that once geothermal energy production is integrated into the national grid, prices would likely decrease for consumers.
The plant, which could reach up to 3.5MW once finished, faced some setbacks which delayed its construction and commissioning. However, the press statement released on Wednesday by the Ministry of Energy highlighted the project’s recent positive developments.
“There was a common consensus that the Early Market Engagement process was a success”, read the statement. “There is a clear indication of interest in Montserrat’s geothermal prospects based on the number of well qualified geothermal players that participated in the exercise.”