GEOLAC Market News - Page 28 of 32

Fortune favors the bold: St. Vincent moves swiftly to develop geothermal
May 2, 2016
In a region which has struggled to get its geothermal ducks in a row, everything appears to be coming together in Saint Vincent and the Grenadines, for what could be the first geothermal project built in the Caribbean in 30 years. “There’s no reason we should be the first, but we might be because we […]
Contract signed for the drilling of the 3rd geothermal exploration well on Montserrat
April 27, 2016
With the help of the UK Department of International Development (DFID), Montserrat will drill a third well for geothermal exploration. A joint statement by the Government of Montserrat and the DFID on Tuesday announced the award of a £5.1m contract for drilling to the Iceland Drilling Company (IDC). The exploratory well will be located in […]
St Lucia on target to begin exploratory geothermal drilling
April 17, 2016
St. Lucia recently completed surface exploration studies for geothermal resource conditions and is on track to begin exploratory drilling soon. Developing geothermal energy in St. Lucia will allow the small island state to reduce dependence on fossil fuels for energy generation. Geothermal energy will play a key role in achieving the country’s goal of sourcing […]
Could Mexico become a geothermal giant?
March 27, 2016
Mexico, the world’s fifth-largest producer of geothermal energy, is home to promising near-the-surface geothermal fields, says the U.S. Geological Survey. At present, Mexico’s geothermal plants produce 980 MW of power, about 1.6% of the nation’s electricity. Several companies are currently working with Mexico’s government to explore opportunities for future geothermal projects. While Mexico […]
Geothermal plants and development in Nicaragua
January 26, 2016
This week Engergia Limpia published an overview of geothermal energy projects in Nicaragua. Nicaragua currently has two geothermal fields in operation – Momotombo and San Jacinto Tizate. Additionally, there are two sites for which concessions have been issued for geothermal exploration – Monte Galan- Chiltepe Managua and Volcan Casita-San Cristobal. There are additional sites for which concessions […]
El Salvador plans to reach a 40% share of geothermal in energy mix by 2019
January 24, 2016
The government of El Salvador announced that it plans to strive to obtain 40% of its national electricity supply from geothermal power. In a statement, the Secretary of Communications of the Presidency of El Salvador, Eugenio Chicas said that this plan aims to source more of its energy from renewables. “The expectation is that at […]
Geothermal is the key to lower electricity prices in the Caribbean, says CDB
January 23, 2016
In a recent interview, Warren Smith, President of the Caribbean Development Bank and CREF Speaker, said that “geothermal is the key to cheaper electricity” in the Caribbean. Caribbean islands have great geothermal potential that could help islands to transition away from dependency on foreign oil and volatile pricing, while developing a reliable and clean energy source. […]
Geothermal exploration begins in St. Kitts
November 13, 2015
Earlier last month, a memorandum of understanding (MOU) was signed by the government of St. Kitts and Teranov, a French engineering and services company for new and renewable energy based in Guadeloupe, to begin geothermal exploration on the island of St. Kitts. The agreement includes a roadmap that paves the way for the production of […]
Geothermal Potential in Montserrat
November 9, 2015
Multi-million dollar tests carried out by Icelandic experts on the island of Montserrat indicate promising potential to generate power using geothermal energy. Montserrat currently has the highest rates in the Caribbean with residential customers paying $0.50 per kilowatt-hour for electricity, compared to the regional average of $0.33. In 2013 the UK Department for International Development […]